Today’s Research Reports on Trending Tickers: UnitedHealth and Centene
U.S. equities closed higher on Tuesday, driven by upbeat corporate earnings and strong economic data. According to the Federal Reserve, U.S. industrial production went up by 0.3 percent in September compared to Wall Street expectation of 0.1 percent increase. The Dow Jones Industrial Average jumped 2.17 percent to close at 25,798.42, while the S&P 500 Index 2.15 percent to close at 2,809.92. The Nasdaq Composite Index hiked 2.89 percent to close at 7,645.49.
Jim Smigiel, chief investment officer of absolute return strategies at SEI said that “the strongest gains in equity markets are behind us,” and that volatility is possibly a match for investors going onward as “chances of a surprise on the upside are lower than on the downside,” when referring to the broader U.S. economy.
RDI Initiates Coverage on:
UnitedHealth Group Incorporated
UnitedHealth’s stock jumped 4.73% Tuesday, to close the day at $272.57. The stock recorded a trading volume of 6,453,592 shares, which was above its three months average volume of 2,582,110 shares. In the last year, UnitedHealth’s shares have traded in a range of 196.37 – 272.81. The share price has gained 38.8% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $265.92 is above its 200-day moving average of $251.31. Shares of the company are trading at a Price to Earnings ratio of 22.69. Shares of UnitedHealth have gained roughly 2.74 percent in the past month and are up 23.64 percent year-to-date.
Access RDI’s UnitedHealth Group Incorporated Research Report at:
On Tuesday, shares of Centene recorded a trading volume of 1,387,881 shares, which was above the three months average volume of 1,248,420 shares. The stock ended the day 5.05% higher at $146.46. The share price has fallen 1.2% from its 52 week high with a 52 week trading range of 89.08 – 148.24. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $143.83 is above its 200-day moving average of $128.25. Shares of the company are trading at a Price to Earnings ratio of 24.92. Shares of Centene have gained roughly 0.84 percent in the past month and are up 42.76 percent year-to-date.
Access RDI’s Centene Corporation Research Report at:
Our Actionable Research on UnitedHealth Group Incorporated (NYSE:UNH) and Centene Corporation (NYSE:CNC) can be downloaded free of charge at Research Driven Investing.
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