UNH UNITEDHEALTH GROUP INC

MIXED Impact: 1/10 ANALYST-UPGRADE
Processed 1mo ago SEC analyst-UNH-argusres-20260422
Argus Research double upgrade: Hold → Buy
Latest settled — T+20d ⚠ clustered
UNH ▲ +10.45% at T+20d
NEUTRAL call ✓ call won +10.45% · α vs SPY +7.29% · entry $352.41 → $389.24
Next anchor: T+60d in 6w
Currently $399.47 · +13.36% from $352.41 entry
Entry anchored
Apr 22, 11:39 AM ET
via Databento tick
T+1d
+0.55%
call +0.55% · α +0.94%
$354.34
settled 6w ago
T+5d
+4.70%
call +4.70% · α +4.65%
$368.97
settled 5w ago
T+20d
+10.45%
call +10.45% · α +7.29%
$389.24
settled 17d ago
T+60d
call — · α —
in 6w

Price Chart

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Executive Summary

Argus Research initiated coverage with a double upgrade from Hold to Buy and set a $400 price target, implying 15.5% upside from the current $346.01. The move contrasts with Argus’s below-average track record: 50% accuracy (1/2 calls) and -17.1% average return. Consensus remains bullish: 70% Buy or Strong Buy (24 of 34 analysts). The $363.19 mean target implies 4.9% upside. EPS estimates are rising, with 8 upward revisions in the past 30 days for current year earnings. Institutional activity shows mixed signals: Norges Bank exited after a prior $4.38B stake, while Two Sigma more than doubled its position. No insider trades reported. Earnings due in 95 days; no short interest data available.

Impact Score

Base Score
2/7
LLM Adjustment
-1
Final Score
1/10

Consensus & Targets

Buy / Strong Buy
24 (71%)
Hold
8
Sell / Strong Sell
2
Total Analysts
26
Mean PT
$363.19
Median PT
$370.00
High PT
$440.00
Low PT
$278.00
Current Price
$346.01
Implied Upside
+5%

Of 34 total analysts, 24 (70.6%) rate the stock Buy or Strong Buy, 8 (23.5%) Hold, and 2 (5.9%) Sell. Consensus direction is firmly bullish. Argus’s Buy rating aligns with the majority, but the $400 target is above the $363.19 mean and $370 median.

The consensus price target mean is $363.19, median $370, range $278–$440, based on 26 analysts. At $346.01, the stock has 4.9% upside to the mean and 6.9% to the median. Argus’s $400 target is 10.1% above the mean and 8.1% above the median, placing it in the top quartile of targets.

Recent Analyst Activity

DateFirmActionRatingPrice Target
2026-04-22 Argus Research upgrade Buy $400.00
2026-04-22 Wells Fargo maintain Overweight $397.00
2026-04-22 RBC Capital maintain Outperform $400.00
2026-04-22 Leerink Partners maintain Outperform $400.00
2026-04-22 Oppenheimer maintain Outperform $405.00
2026-04-22 Baird maintain Underperform $287.00
2026-04-22 Barclays maintain Overweight $373.00
2026-04-22 Truist Securities reiterate Buy $395.00
2026-04-20 Jefferies maintain Buy $373.00
2026-04-07 Bernstein maintain Outperform $411.00

Over the past 30 days, there have been 2 upgrades and 0 downgrades. EPS estimates show positive revision momentum: 8 upward and 3 downward revisions in the past 30 days for current-year earnings. Current EPS estimate is $17.86, up from $17.86 30 days ago, reflecting tightening consensus around stable fundamentals.

Firm Track Record — Argus Research

Argus Research accuracy: 54% on 339 calls | avg return: 3.7%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.

FirmAccuracyCallsAvg Returnvs Average
JP Morgan 67% 4/6 6.5% top tier
HSBC 67% 2/3 -8% top tier
Piper Sandler 67% 4/6 4.7% top tier
B of A Securities 57% 4/7 1.3% above average
Cantor Fitzgerald 50% 7/14 0.4% below average
Argus Research 50% 1/2 -17.1% below average
UBS 50% 2/4 -2.8% below average
RBC Capital 43% 3/7 -0.6% below average
Barclays 42% 5/12 -4.3% below average
Mizuho 40% 2/5 -10.4% below average

Argus Research has a 50% accuracy rate (1 correct out of 2 scored calls) and an average return of -17.1%, ranking below average among 15 firms covering the stock. JP Morgan leads with 67% accuracy (4/6) and +6.5% average return. Argus underperforms both the group median accuracy (50%) and return (0.4%).

Earnings Estimates

Next earnings: Jul 27, 2026

PeriodEPS Est.EPS RangeRevenueRevisions (7d)
0q $4.65 $4.28 — $5.14 $109.6B ↑3 ↓0
+1q $3.88 $3.58 — $4.67 $110.6B ↑2 ↓0
0y $17.86 $17.70 — $18.75 $440.2B ↑2 ↓0
+1y $20.12 $18.30 — $21.59 $456.2B ↑1 ↓0

Cross-Platform Signals

Congressional
Ro Khanna (democrat) — buy $1,001 - $15,000
Congressional
Rich McCormick (republican) — buy $1,001 - $15,000
Congressional
Rich McCormick (republican) — buy $1,001 - $15,000
Institutional
NORGES BANK — new
Institutional
CAUSEWAY CAPITAL MANAGEMENT LLC — exit (-100%)
Institutional
Cullen Capital Management, LLC — add (40.7%)

Congressional trades show 5 buys in the past 90 days, including a $50K–$100K purchase by Markwayne Mullin. No insider trades reported. Institutional activity is split: Norges Bank fully exited a $4.38B position, while Two Sigma increased its stake by 690.9%. Cullen Capital added 40.7%. No short interest data available. Congressional and some institutional buying converges with the bullish analyst signal, but Norges Bank’s exit is a divergence.

Actionable Insight

Discount Argus’s upgrade due to its poor track record and contrarian positioning against recent institutional exits. Favor firms with stronger accuracy like JP Morgan or Piper Sandler. Monitor Two Sigma’s aggressive entry as a validating signal.

Documents Analyzed

Report based on filing metadata.

21 reports for UNH
Performance horizon
91% Hit rate 10 of 11 directional calls best @ T+20▲ +35.28%May 1, 2026
Filters
Rows
Reports for UNH — sortable, filterable
Type Now
Jun 4, 2026
1d ago
ANALYST-UPGRADE
BULLISH ★ 3/10
awaiting T+5
May 31, 2026
5d ago
ANALYST-UPGRADE
BULLISH ★ 3/10
$273.77 $306.70▲ +12.03%▲ +8.26%$399.47 (+45.92%)
May 22, 2026
14d ago
ANALYST-UPGRADE
BULLISH ★ 3/10
$352.41 $370.49▲ +5.13%▲ +5.08%$399.47 (+13.36%)
May 15, 2026
21d ago
DEFA14A
NEUTRAL ★ 2/10
awaiting T+5
May 11, 2026
25d ago
8-K
NEUTRAL ★ 2/10
$396.27 $391.13▼ −1.30%▼ −1.37%$399.47 (+0.81%)
May 1, 2026
5w ago
ANALYST-UPGRADE
BULLISH ★ 3/10
$273.77 $306.70▲ +12.03%▲ +8.26%$399.47 (+45.92%)
Apr 22, 2026
6w ago
ANALYST-UPGRADE
MIXED ★ 1/10
$352.41 $368.97▲ +4.70%▲ +4.65%$399.47 (+13.36%)
Apr 21, 2026
6w ago
8-K
BULLISH ★ 8/10
$345.78 $366.50▲ +5.99%▲ +4.91%$399.47 (+15.53%)
Apr 15, 2026
7w ago
Court Ruling
NEUTRAL ★ 3/10
$314.04 $352.41▲ +12.22%▲ +10.58%$399.47 (+27.21%)
Mar 30, 2026
9w ago
Court Ruling
NEUTRAL ★ 3/10
$261.52 $306.85▲ +17.33%▲ +13.03%$399.47 (+52.75%)
Showing 10 of 21

US Market Status

Market Closed — Opens Mon (35h 15m)

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