Increased Healthcare Utilization Helped UnitedHealth Group Incorporated (UNH)

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. After a robust first half of the year, the S&P 500 Index declined 3.3% in the third quarter, leaving the market up 13.1% through the first nine months of 2023. On a relative basis, this year has not been good for the fund’s investment strategy. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund highlighted stocks like UnitedHealth Group Incorporated (NYSE:UNH) in the third quarter 2023 investor letter. Headquartered in Minnetonka, Minnesota, UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that operates through UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx segments. On December 4, 2023, UnitedHealth Group Incorporated (NYSE:UNH) stock closed at $548.28 per share. One-month return of UnitedHealth Group Incorporated (NYSE:UNH) was 2.78%, and its shares gained 2.47% of their value over the last 52 weeks. UnitedHealth Group Incorporated (NYSE:UNH) has a market capitalization of $507.118 billion.

Carillon Eagle Mid Cap Growth Fund made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its Q3 2023 investor letter:

“UnitedHealth Group Incorporated (NYSE:UNH) reported better than feared second-quarter results, although the company acknowledged that healthcare utilization trends have increased year to date. The company also benefitted from improving sentiment for the managed care industry as a whole, which was likely related to the recent rise in Treasury yields.”

A healthcare professional in a meeting with a patient discussing care options using digital technology.

UnitedHealth Group Incorporated (NYSE:UNH) is in 16th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 104 hedge fund portfolios held UnitedHealth Group Incorporated (NYSE:UNH) at the end of third quarter which was 111 in the previous quarter.

We discussed UnitedHealth Group Incorporated (NYSE:UNH) in another article and shared the list of best stocks to buy for investment. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.