5 Stocks That Will Make You Rich In 2024

4. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 113

UnitedHealth Group Incorporated (NYSE:UNH) is a Minnesota-based company that provides healthcare coverage, software, and data consultancy services.

UnitedHealth Group Incorporated (NYSE:UNH)’s subsidiary, Optum, majorly contributed to revenue growth in 2023. When reporting full-year 2023 earnings results, the company reported that Optum’s full-year revenues jumped 24% year-over-year (YoY) to $226.6 billion.

On February 23, UnitedHealth Group Incorporated (NYSE:UNH) declared a quarterly dividend of $1.88, payable by March 19 to the shareholders of record on March 11. As of the February 23 market close, the stock’s dividend yield was 1.43%.

Wedgewood Partners mentioned UnitedHealth Group Incorporated (NYSE:UNH) in its fourth quarter 2023 investor letter. Here is what it said:

“UnitedHealth Group Incorporated (NYSE:UNH) contributed less to portfolio performance than the majority of our holdings during the quarter. The Company reported double-digit revenue, operating earnings and earnings per share growth during their third quarter. The Company has been able to adjust pricing in its health care segment to keep up with medical cost inflation while working with its Optum units to deliver more value-based care that replaces the traditional fee for service health care model. Value-based care is a sensible, long-term growth opportunity for the Company to pursue and also differentiates it from the vast majority of healthcare providers, particularly as it relates to Medicare patients. For example, the Company’s value-based care programs provide more preventative care opportunities and home-based care visits for patients which helps save the U.S. healthcare system billions in unnecessary spending while also providing patients with better outcomes, as diseases and behaviors are caught or corrected at earlier stages. The Company has invested in several core assets over many years to execute this value-based strategy and it will become the standard of care as the proportion of people in the U.S. with healthcare insurance coverage continues to reach new highs.”