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 $597,582 were sold by McSweeney Erin on Mar 08 ’24. At $483.48 per share, McSweeney Erin sold 1,236 shares. The insider’s holdings dropped to 9,364 shares worth approximately $4.21 million following the completion of this transaction.
Also, ROOS THOMAS E sold 858 shares, netting a total of over 451,128 in proceeds. Following the sale of shares at $525.79 each, the insider now holds 32,289 shares.
Before that, THOMPSON BRIAN R had sold 28,943 shares from its account. In a trade valued at $15,079,303, the CEO, UnitedHealthcare traded Unitedhealth Group Inc shares for $521.00 each. Upon closing the transaction, the insider’s holdings decreased to 28,943 shares, worth approximately $11.5 million.
As published in a research note from HSBC Securities on April 04, 2024, Unitedhealth Group Inc [UNH] has been rated up from a Reduce to a Hold and the price target has been revised to $460. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early March. As of December 18, 2023, HSBC Securities has decreased its “Hold” rating to a “Reduce” for UNH. Earlier on October 16, 2023, UBS upgraded its rating. Their new recommendation was “a Buy” for UNH stock which previously was a “a Neutral”.
Analyzing UNH Stock Performance
During the last five days, there has been a drop of approximately -2.11%. Over the course of the year, Unitedhealth Group Inc shares have dropped approximately -14.52%. Shares of the company reached a 52-week high of $549.00 on 01/04/24 and a 52-week low of $449.60 on 04/02/24. A 50-day SMA is recorded $495.02, while a 200-day SMA reached $508.47. Nevertheless, trading volume fell to 4.48 million shares from 3.52 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 446.97, which, if violated, would cause prices to drop to 443.90. In the upper region, resistance lies at 455.93. The next price resistance is at 461.82. RSI (Relative Strength Index) is 27.50 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -18.47, which suggests the price will decrease in the coming days. Percent R is at 99.03%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Unitedhealth Group Inc subject to short interest?
Stocks of Unitedhealth Group Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.95 million shares to 7.29 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 6.34 million shares. A jump of 13.03% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.67 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.67.
