UnitedHealth shares surge on Q1 earnings beat and raised 2026 outlook

UnitedHealth Group (UNH) is up 9.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The move higher appears tied to UnitedHealth’s first-quarter 2026 results, which showed solid profitability and an improved cost trend, alongside a higher full-year 2026 earnings outlook. Investors also likely responded positively to indications of continued capital returns and steady operating performance across its insurance and Optum units.

Details:

UnitedHealth reported first-quarter 2026 revenue of $111.7 billion (up 2% year-over-year) and diluted EPS of $6.90, with adjusted EPS of $7.23.

The company raised its full-year 2026 outlook to greater than $17.35 in EPS and greater than $18.25 in adjusted EPS.

Management cited a first-quarter 2026 medical care ratio of 83.9%, down from 84.8% a year earlier, reflecting stronger medical cost management and favorable reserve development (partly offset by elevated utilization and unit cost trends).

The company indicated it expects to repurchase at least $2.0 billion of common stock by the end of the second quarter of 2026.

Sources:

UnitedHealth Group Investor Relations, SEC EDGAR (Form 8-K), Stock Titan

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$UNH Hedge Fund Activity

We have seen 1,258 institutional investors add shares of $UNH stock to their portfolio, and 1,775 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 20,260,160 shares (-73.6%) from their portfolio in Q4 2025, for an estimated $6,688,081,417
CAPITAL RESEARCH GLOBAL INVESTORS removed 6,780,251 shares (-52.0%) from their portfolio in Q4 2025, for an estimated $2,238,228,657
CARDANO RISK MANAGEMENT B.V. removed 2,264,606 shares (-89.7%) from their portfolio in Q1 2026, for an estimated $608,839,323
CITADEL ADVISORS LLC added 2,079,416 shares (+244.9%) to their portfolio in Q4 2025, for an estimated $686,436,015
UBS GROUP AG removed 1,839,868 shares (-40.3%) from their portfolio in Q4 2025, for an estimated $607,358,825
ROCKEFELLER CAPITAL MANAGEMENT L.P. added 1,568,099 shares (+532.9%) to their portfolio in Q4 2025, for an estimated $517,645,160
AMUNDI added 1,544,066 shares (+26.6%) to their portfolio in Q4 2025, for an estimated $509,711,627

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$UNH Government Contracts

We have seen $16,787,092,657 of award payments to $UNH over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

EXPRESS REPORT: R3 FY25 3RD QTR APRIL: $830,362,703
EXPRESS REPORT: R3 FY25 3RD QTR MAY: $819,320,444
EXPRESS REPORT: R3 FY25 2ND QTR MARCH: $791,841,212
EXPRESS REPORT: R3 FY25 2ND QTR FEBRUARY: $730,504,137

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$UNH Congressional Stock Trading

Members of Congress have traded $UNH stock 14 times in the past 6 months. Of those trades, 7 have been purchases and 7 have been sales.

Here’s a breakdown of recent trading of $UNH stock by members of Congress over the last 6 months:

REPRESENTATIVE RICHARD MCCORMICK has traded it 2 times. They made 2 purchases worth up to $30,000 on 03/19, 11/05 and 0 sales.
REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 4 times. They made 2 purchases worth up to $65,000 on 03/13, 12/19 and 2 sales worth up to $65,000 on 02/10, 11/12.
SENATOR MARKWAYNE MULLIN purchased up to $100,000 on 02/25.
REPRESENTATIVE JOSH GOTTHEIMER purchased up to $15,000 on 02/05.
REPRESENTATIVE KEVIN HERN sold up to $500,000 on 12/23.
REPRESENTATIVE JULIE JOHNSON has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 12/18, 11/13.
REPRESENTATIVE LISA C. MCCLAIN has traded it 3 times. They made 1 purchase worth up to $15,000 on 10/30 and 2 sales worth up to $30,000 on 10/31, 10/30.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$UNH Analyst Ratings

Wall Street analysts have issued reports on $UNH in the last several months. We have seen 10 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Mizuho issued a "Outperform" rating on 02/05/2026
Truist Securities issued a "Buy" rating on 02/02/2026
Barclays issued a "Overweight" rating on 01/30/2026
Wells Fargo issued a "Overweight" rating on 01/30/2026
Jefferies issued a "Buy" rating on 01/28/2026
Leerink Partners issued a "Outperform" rating on 01/28/2026
Bernstein issued a "Outperform" rating on 10/30/2025

To track analyst ratings and price targets for $UNH, check out Quiver Quantitative's $UNH forecast page.

$UNH Price Targets

Multiple analysts have issued price targets for $UNH recently. We have seen 16 analysts offer price targets for $UNH in the last 6 months, with a median target of $371.5.

Here are some recent targets:

David Windley from Jefferies set a target price of $373.0 on 04/20/2026
Lance Wilkes from Bernstein set a target price of $411.0 on 04/07/2026
John Ransom from Raymond James set a target price of $330.0 on 04/01/2026
Ann Hynes from Mizuho set a target price of $350.0 on 02/05/2026
David Macdonald from Truist Securities set a target price of $370.0 on 02/02/2026
Lisa Gill from JP Morgan set a target price of $389.0 on 02/02/2026
Stephen Baxter from Wells Fargo set a target price of $370.0 on 01/30/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.