UnitedHealth Group Inc(UNH.N)on Friday reported a quarterly profit that beat Wall Street estimates, helped by lower medical costs, boost from its Optum health services unit and strength across its large health insurance business.
Health insurers' costs have varied during the pandemic, but due to nationwide vaccination program COVID-related hospitalizations have reduced over the last one year, thereby easing medical cost.
UnitedHealth stock gains 0.8% as Q4 beats top and bottom line consensus.
Optum includes UnitedHealth's pharmacy benefit management business that helps negotiate the terms of coverage between health insurers, their clients and drug manufacturers.
Excluding items, the company reported a profit of $5.34 per share for the fourth quarter ended Dec. 31, beating the average of analysts' estimates of $5.17 per share, according to Refinitiv IBES data.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
