Is it Still a Good Move to Invest in UnitedHealth (UNH)?

Stewart Asset Management, an investment management firm, published its third-quarter 2022 investor letter – a copy of which can be downloaded here. For the quarter that ended September 30th, the fund’s Flagship portfolio declined 8.07%, net of fees. The S&P 500 Index, our benchmark, lost 4.88%. For the nine months ending September 30th, its Flagship declined 35.68%, net of fees, and the S&P 500 Index lost 23.87%. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Stewart Asset Management mentioned UnitedHealth Group Incorporated (NYSE:UNH) and explained its insights for the company. Founded in 1977, UnitedHealth Group Incorporated (NYSE:UNH) is a Minnetonka, Minnesota-based multinational managed healthcare and insurance company with a $510.0 billion market capitalization. UnitedHealth Group Incorporated (NYSE:UNH) delivered a 8.71% return since the beginning of the year, while its 12-month returns are up by 14.16%. The stock closed at $545.86 per share on December 12, 2022.

Here is what Stewart Asset Management has to say about UnitedHealth Group Incorporated (NYSE:UNH) in its Q3 2022 investor letter:

“Looking at the Great Recession which began at year-end 2007 and lasted to mid-year 2009 is helpful too. Our four largest current holdings in the portfolio weathered that period well. UnitedHealth’s (NYSE:UNH) earnings were resilient. While it reported modestly down earnings in 2008, its earnings rebounded quickly to record highs in 2010 and the shares responded strongly in anticipation of this.”

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Our calculations show that UnitedHealth Group Incorporated (NYSE:UNH) ranks 14th on our list of the 30 Most Popular Stocks Among Hedge Funds. UnitedHealth Group Incorporated (NYSE:UNH) was in 110  hedge fund portfolios at the end of the second quarter of 2022, compared to 91 funds in the previous quarter. UnitedHealth Group Incorporated (NYSE:UNH) delivered a 2.75% return in the past 3 months.

In November 2022, we also shared another hedge fund’s views on UnitedHealth Group Incorporated (NYSE:UNH) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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