UnitedHealth Jumps on Outlook as It Puts Obamacare Woes in Past
- Shares rise as much as 6.4%, biggest gain since July 2013
- 2017 could see ‘modestly stronger’ EPS growth forecast
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UnitedHealth Group Inc. jumped the most in more than three years after raising its full-year profit forecast, signaling the health insurer is turning a corner after losses related to Obamacare markets weighed down results this year.
The stock rose as much as 6.4 percent after UnitedHealth said Tuesday on a conference call with investors that it could see “modestly stronger” earnings-per-share growth next year. The company will discuss its 2017 profit forecast at a Nov. 29 investor event. For now, President Dave Wichmann said the company is “comfortable” with analysts’ 2017 earnings estimates. They anticipate $9.10 a share, the average of predictions compiled by Bloomberg.