Taking a look at what insiders are doing to gauge the Unitedhealth Group Inc (UNH)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Unitedhealth Group Inc shares valued at $36,370,196 were sold by HEMSLEY STEPHEN J on Dec 05. At $550.39 per share, HEMSLEY STEPHEN J sold 66,081 shares. The insider’s holdings dropped to 635,528 shares worth approximately $330.53 million following the completion of this transaction.

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Also, HEMSLEY STEPHEN J sold 121,515 shares, netting a total of over 65,688,591 in proceeds. Following the sale of shares at $540.58 each, the insider now holds 521,818 shares.

Before that, McSweeney Erin had sold 4,498 shares from its account. In a trade valued at $2,448,192, the EVP Chief People Officer traded Unitedhealth Group Inc shares for $544.28 each. Upon closing the transaction, the insider’s holdings decreased to 4,498 shares, worth approximately $4.79 million.

As published in a research note from HSBC Securities on December 18, 2023, Unitedhealth Group Inc [UNH] has been rated down from a Hold to a Reduce and the price target has been revised to $480 from $550.

Analyzing UNH Stock Performance

During the last five days, there has been a surge of approximately 2.55%. Over the course of the year, Unitedhealth Group Inc shares have dropped approximately -1.21%. Shares of the company reached a 52-week high of $549.00 on 01/04/24 and a 52-week low of $479.00 on 01/25/24. A 50-day SMA is recorded $527.14, while a 200-day SMA reached $506.96. Nevertheless, trading volume fell to 3.34 million shares from 4.11 million shares the previous day.

Support And Resistance Levels for Unitedhealth Group Inc (UNH)

According to the 24-hour chart, there is a support level at 517.53, which, if violated, would cause prices to drop to 514.97. In the upper region, resistance lies at 522.41. The next price resistance is at 524.72. RSI (Relative Strength Index) is 52.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.52, which suggests the price will increase in the coming days. Percent R is at 4.80%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Unitedhealth Group Inc subject to short interest?

Stocks of Unitedhealth Group Inc saw a sharp steep in short interest on Jan 11, 2024 dropping by -0.47 million shares to 6.26 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 6.73 million shares. A decline of -7.51% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.94 of the overall float, the days-to-cover ratio (short ratio) decline to 1.94.

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