5 Best Stocks To Invest In 2023 For Beginners

2. UnitedHealth Group Inc. (NYSE:UNH)

Revenue Growth (YoY): 12.90%

3-Year Revenue Growth: 10.91%

Number of Hedge Fund Holders: 110

UnitedHealth Group Inc. (NYSE:UNH) is one of the best beginner stocks to buy now according to hedge funds. In fiscal 2022, the company grew its revenue by 12.90% year over year. Moreover, the company has a 3-year revenue CAGR of 10.91%. As of April 21, the stock is offering a forward dividend yield of 1.36%.

On April 20, Cantor Fitzgerald analyst Sarah James started coverage of UnitedHealth Group, Inc. (NYSE:UNH) with an Overweight rating and a $591 price target.

UnitedHealth Group Inc. (NYSE:UNH) was spotted on 110 hedge funds’ portfolios at the end of Q4 2022 that held collective stakes worth $11.4 billion in the company. Of those, GQG Partners was the dominant investor and disclosed a position worth $2 billion.

FMI made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its Q1 2023 investor letter:

“UnitedHealth Group Incorporated (NYSE:UNH) is the largest, best-managed, and most-diversified managed care organization in the U.S. and is among the largest providers of health services and technology through its fast-growing Optum businesses. In managed care (health insurance), UNH is the number one national provider in the rapidly expanding Medicare Advantage market, in addition to the number one and number two positions in most other sub segments. Today, scale is more important than ever in delivering top benefits at competitive prices. Scaled buying power (and network building) ensures the most visibility into medical costs at a given site-of-care and scaled investment gives UNH the most enhanced capabilities (tools and technology, typically from Optum) that nudge participants towards lower cost sites-of-care. We view the forward valuation (17 times 2024E EPS) and long-term growth algorithm as attractive.”