Shares of UnitedHealth Group Inc. rose 0.3% in premarket trading Wednesday, after the health insurer reported fourth-quarter profit and revenue that rose above expectations and affirmed its full-year outlook. Net income increased to $4.07 billion, or $4.26 a share, from $2.21 billion, or $2.30 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $4.48, above the FactSet consensus of $4.30. Revenue grew 12.6% to $73.74 billion, topping the FactSet consensus of $72.98 billion, as premiums increased 13.8% to $57.55 billion. Operating costs rose 10.1% to $68.20 billion, with medical costs growing 14.4% to $48.16 billion. The company affirmed its 2022 guidance ranges for adjusted earnings per share of $21.10 to $21.60 and for revenue of $317 billion to $320 billion, which compares with the FactSet consensus for EPS of $21.63 and revenue of $316.8 billion. The stock has gained 8.6% over the past three months through Tuesday, while the SPDR Health Care Select Sector ETF has tacked on 2.7% and the Dow Jones Industrial Average has slipped 0.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
