5 Healthcare Stocks Billionaires Like the Most

4. UnitedHealth Group Inc. (NYSE:UNH)

Number of Billionaire Holders: 21

UnitedHealth Group Inc. (NYSE:UNH) provides health coverage, software, data, and consultancy services. Its health insurance business utilizes technology and data capabilities to help coordinate patient care, improve affordability, analyze cost trends, manage pharmacy benefits, and create a simpler consumer experience.

On October 13, UnitedHealth Group Inc. (NYSE:UNH) released its financial results for the third quarter of 2023. It generated a strong performance during the quarter with total revenue and net income both exceeding Q3 2022 figures by more than 10% at $92.4 billion and $6.0 billion, respectively.

Following the earnings release, RBC Capital raised the firm’s price target on UnitedHealth Group Inc. (NYSE:UNH) shares to $596 from $572 and maintained an ‘Outperform’ rating.

As of Q3 2023, 104 of the 910 hedge funds tracked by Insider Monkey owned shares of UnitedHealth Group Inc. (NYSE:UNH), valued at $11.0 billion. Its largest shareholder was GQG Partners with ownership of 3.2 million shares valued at $1.6 billion.

In its Baron Health Care Fund Q3 2023 investor letter, Baron Funds, an investment management company, made the following comments about UnitedHealth Group Inc. (NYSE:UNH):

“UnitedHealth Group Incorporated is a diversified health and well-being company with $200 billion in revenue that operates across four segments, United Healthcare, Optum Health, OptumInsight, and OptumRX, serving 134 million individuals in all 50 states and more than 125 countries. [. . .] We remain positive on this market-leading managed care company with revenue twice that of its closest competitor. The company continues to gain Medicare Advantage share given attractive and stable benefits and could achieve greater profitability as medical management is deployed across newer, higher acuity lives. We believe UnitedHealth has a broad number of levers at its command and can sustainably deliver 13% to 16% annual longterm earnings growth.”