UnitedHealth ups two thousand sixteen outlook after surprisingly powerful 1Q

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Source:   —  April 19, 2016, at 2:11 PM

The Minnetonka, Minnesota, company presently expects annual adjusted earnings ranging from $7.75 to $7.95 per share. That'south up fifteen cents from when it latest reaffirmed its outlook in January.

UnitedHealth ups two thousand sixteen outlook after surprisingly powerful 1Q

UnitedHealth hiked its two thousand sixteen forecast after a first quarter in which the nation'south largest health insurer topped Wall Str earnings expectations and its profit grew by fourteen percent.

The Minnetonka, Minnesota, company presently expects annual adjusted earnings ranging from $7.75 to $7.95 per share. That'south up fifteen cents from when it latest reaffirmed its outlook in January.

Analysts had been projecting earnings of $7.73 per share, according to FactSet.

The company cited changes in an expected income tax rate and intangible amortization for the outlook increase.

In the year'south first quarter, UnitedHealth'south net income climbed to $1.61 billion, from $1.41 billion, with adjusted earnings totaling $1.81 per share. That easily beat the per share earnings of $1.72 that Wall Str had expected, according to Zacks Investment Research.

Income jumped nearly twenty-five % to $44.53 billion.

UnitedHealth is the first insurer to announce earnings every quarter. Many look it as a bellwether for the managed care sector.

Health insurance is UnitedHealth'south largest business, but it also operates segments that sell information technology services and pharmacy benefits management. UnitedHealth also is the largest provider of Medicare Advantage plans, which are privately running versions of the government'south Medicare program for the elderly and disabled people.

Company shares have increased roughly nine % since the beginning of the year, while the Standard & Poor's five hundred index has climbed 2.five percent. The stock has increased 5 % in the last twelve months.

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Elements of this legend were generated by Automated Insights (http://automatedinsights. com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UNH at http://www. zacks. com/ap/UNH

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