UnitedHealth raises 2026 adjusted earnings outlook to at least $20.50
UNH
UnitedHealth raised its full-year 2026 earnings outlook after reporting third-quarter results. It now expects adjusted earnings of at least $20.50 per share and reported earnings of at least $19.50 per share.[1]
The quarter in numbers
Third-quarter 2026 earnings were $4.56 per share on a reported basis and $4.69 per share on an adjusted basis. Revenue was $112.7 billion, with earnings from operations of $6.6 billion.[1]
What matters for UNH stock
The guidance increase is the clearest signal for investors: management now expects stronger full-year earnings. The adjusted forecast and the reported forecast use different measures, so investors should compare each with figures on the same basis.[1]
A higher outlook improves the company’s stated profit expectations, but it remains a forecast. The next question is whether UnitedHealth can sustain the operating performance behind it. This announcement alone does not establish how the shares should be valued.[1]
UNH insider trading activity
In open-market trades dated in the last 90 days, no insider bought and 1 insider sold $661K, per Form 4 filings.
- Patrick Hugh Conway (Chief Executive Officer, Optum) sold 1,669 shares for $661K, last filed Aug 25.
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UNH 13F fund activity
In 13F filings for the quarter ended Jun 30, 2026, 10 funds we track made a large change in UNH: 5 opened a position or grew one by half or more, and 5 cut one by half or more, 1 of them selling out completely.
- Fmr LLC added 15,973,949 shares.
- Two Sigma Investments, LP cut 1,503,480 shares.
- Qube Research & Technologies Ltd added 1,405,937 shares.
- Viking Global Investors LP sold all 1,197,273 shares, leaving no position.
- Renaissance Technologies LLC cut 791,414 shares.
UNH Congress trades
4 members of Congress reported 7 trades in UNH dated in the last 180 days: 1 purchase and 6 sales. Congress reports a value range, not an exact amount.
- Rep. Kevin Hern (R) sold $15K-$50K on Sep 23, filed Oct 13.
- Rep. Kevin Hern (R) sold $15K-$50K on Sep 10, filed Sep 25.
- Rep. Richard Dean McCormick (R) sold $1K-$15K on Jul 30, filed Aug 14.
- Sen. John Boozman (R) bought $1K-$15K on Jun 4, filed Jul 13.
- Rep. Richard Dean McCormick (R) sold $1K-$15K on Jun 12, filed Jul 9 (2 trades).
