Is UnitedHealth Group Inc. (UNH) Destined To Rise Following Earnings Beat Dip?

How have hedgies been trading UnitedHealth Group Inc. (NYSE:UNH)?

According to hedge fund experts at Insider Monkey, Boykin Curry‘s Eagle Capital Management had the number one position in UnitedHealth Group Inc. (NYSE:UNH), worth close to $1.29 billion, corresponding to 4.8% of its total 13F portfolio. The second-most bullish hedge fund manager is Cliff Asness of AQR Capital Management, with a $235.2 million position; 0.5% of his fund’s 13F portfolio is allocated to the stock. Some other hedge funds with similar optimism encompass Phill Gross and Robert Atchinson’s Adage Capital Management, ClearBridge, managed by Sam Peters, and John Shapiro‘s Chieftain Capital.

As one would reasonably expect, key hedge funds have been driving this bullishness. Point72 Asset Management, managed by Steve Cohen, created the most valuable position in UnitedHealth Group Inc. (NYSE:UNH). Point72 Asset Management had $26 million invested in the company at the end of the first trimester. Brian Taylor’s Pine River Capital Management also made a $17 million investment in the stock during the same quarter. The following funds were also among the new United Health investors: Eric Sprott’s Sprott Asset Management, and Sahm Adrangi’s Kerrisdale Capital.

We believe that strong hedge fund sentiment and an earnings surprise, combined with improved guidance make the stock a buy on its dip today.

Disclosure: None