ClearBridge Investments: What Makes UnitedHealth Group Incorporated (UNH) Attractive?

ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund’s portfolio outperformed the Russell 3000 benchmark Index in the second quarter of 2022. Stock selection and sector allocation contributed to the fund’s performance. For more information on the fund’s top picks in 2022, please check its top five holdings.

In the letter, ClearBridge Investments discussed its ClearBridge Sustainability Leaders Strategy portfolio. UnitedHealth Group Incorporated (NYSE:UNH) was mentioned in the letter. UnitedHealth Group Incorporated (NYSE:UNH) is a healthcare company headquartered in Minnetonka, Minnesota. The stock of UnitedHealth Group Incorporated (NYSE:UNH) closed at $535.06 per share on August 5, 2022. One-month return of UnitedHealth Group Incorporated (NYSE:UNH)  rose to 3.17% and its shares gained 28.89% of their value over the last 52 weeks. UnitedHealth Group Incorporated (NYSE:UNH) has a market capitalization of $501.978 billion.

Here is what ClearBridge Sustainability Leaders Strategy specifically said about UnitedHealth Group Incorporated (NYSE:UNH) in its second-quarter investor letter:

“UnitedHealth Group Incorporated (NYSE:UNH) high-quality traits made it attractive while higher-multiple, more speculative stocks sold off. While biotechnology got a bid from increased M&A interest, our biotech holdings also showed fundamental strength: Gilead Sciences (GILD) beat bottom and topline estimates driven by strong sales of its HIV and COVID-19 drugs; BioMarin Pharmaceutical (BMRN) was up as Japan granted approval for its Voxzogo injection to treat achondroplasia in children and received conditional approval for its hemophilia gene therapy in Europe.”

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UnitedHealth Group Incorporated (NYSE:UNH) is in 15^th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 103 hedge fund portfolios held UnitedHealth Group Incorporated (NYSE:UNH) at the end of the first quarter which was 96 in the previous quarter.

We discussed UnitedHealth Group Incorporated (NYSE:UNH) in another article and shared Wedgewood Partners’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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