PREVIEW: UnitedHealth Group expected to post 34% year-on-year revenue slide
Shares of UnitedHealth Group UNH.N edging lower on Mon, ahead of its qtrly results expected before the opening bell Tues
Health insurer seen posting adj EPS of $4.48, a 34.1% year-over-year decrease, on rev of $111.52 bln vs $98.86 bln in year-ago qtr, according to LSEG
On May 15, UNH shares plunged 10.9% following on a WSJ report that the Dept of Justice is investigating co for possible Medicare fraud
On May 13, CEO Andrew Witty announced he would step aside for personal reasons
On Apr 17, stock tumbled 22.4% - biggest drop in over 26 years - after co missed qtrly EPS estimate and lowered its outlook for the year; otherwise, UNH has beaten or met EPS expectations going back to at least Q1, 2020
Of 28 analysts covering UNH, 19 rate stock "buy" or stronger; 6 recommend "hold" and 3 "sell," per LSEG
The median 12-mo price target on the stock is $350; down 34% from the beginning of the qtr
UNH options imply an 8.5% swing for the shares, in either direction by Thursday, per Trade Alert data; that is higher than the stock's avg move of 7.7%, on the day of results over the last eight qtrs, per Trade Alert
YTD, UNH shares are off 44.6% compared with a roughly 5.2% gain in the Dow Jones industrial Average .DJI
