UnitedHealth Raises Outlook on Medicare Adjustment
UnitedHealth Group said Monday it raised its 2007 earnings outlook to $3.45 to $3.50 per share, excluding items, because of adjustments related to its 2006 Medicare business.
The insurer earned 2 cents per share more in the second quarter than it stated in its preliminary results reported on July 19, when it raised its full-year forecast by 2 cents to $3.43 to $3.48 per share.
Analysts expect the top U.S. health insurer by market value to earn $3.46 per share this year, according to Reuters Estimates.
In a filing with the U.S. Securities and Exchange Commission, the company said second-quarter consolidated net earnings were $1.228 billion, or 89 cents per share, up from $1.197 billion, or 87 cents per share, reported in the preliminary figures.
It also repeated its earnings outlook for the third quarter to be in the range of 91 to 93 cents per share.
UnitedHealth's stock closed at $47.50 per share on Friday, its lowest close since late-November 2006. It hit a high for 2007 of $57.10 on March 26.