Insurance leader UnitedHeath Group Inc (NYSE:UNH) is surging 7.6% to trade at $418.52 before the bell, after the company posted a blowout second-quarter earnings and revenue beat. The Dow name posted $6.38 earnings per share on revenue of $112.03 billion, also hiking its full-year outlook due to cost management.
UNH is set to add to its 27% year-to-date lead and move back up toward its July 9 52-week high of $434.30. The 20-day moving average has also been solidifying as support.
Analysts are already bullish toward the health insurance behemoth. Heading into today, 23 of the 26 brokerages in coverage sport a "buy" or "strong buy" recommendation, while the average 12-month price target of $438.83 is a nearly 5% premium to current levels.
UnitedHealth stock also sports a Schaeffer's Volatility Scorecards (SVS) reading of 94 out of 100. This suggests the stock has realized higher volatility than its options have priced in over the past 12 months.
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