Jonathan Kitchen Oppenheimer Asset Management is bullish on UnitedHealth ( NYSE: UNH ) stock and says the company “exhibits the strongest trend in the managed care sub-industry.” The financial institution also noted that the Dow 30 component can push up to $650 and rated its shares Buy. “UNH’s rally above $550 marks a multi-year breakout in trend and a resumption of the stock’s structural uptrend, in our view.
This breakout point is now support and, by our analysis, measures towards $650; this is the height of the prior range projected from breakout point,” Oppenheimer Asset Management said. Currently, UNH trades at $582 a share and is above its 10-, 50-, 100-, and 200-day moving averages and is just 1.5% away from its all-time trading high of $591.
54 a share which was recorded back on August 2. Moreover, over the course of the 2024 trading year, UNH has been able to advance by 10.6% while also gaining 16.
8% over the longer 1-year timeframe. See the chart below provided by Oppenheimer Asset management: For broader exposure towards UnitedHealth ( UNH ), investors can also look towards exchange-traded funds, as 356 ETFs hold positions in the health care firm. Highlighted below are the five funds that have the largest portfolio allocation towards shares of UNH.
iShares U.S. Healthcare Providers ETF ( IHF ) has a 24.
16% allocation towards UNH. Global X Dow 30 Covered Call ETF ( DJIA ) has a 9.31% allocation towards UNH.
Health Care Select Sector SPDR Fund ( XLV ) has a 9.31% allocation towards UNH. Global X Dow 30 Covered Call & Growth ETF ( DYLG ) has a 9.
30% allocation towards UNH. SPDR Dow Jones Industrial Average ETF Trust ( DIA ) has a 9.28% allocation towards UNH.
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