Melissa Davis
UnitedHealth Sinks as Attrition Takes Toll
04/15/04 - 12:18 PM EDT
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Overall, the company increased net income by a whopping 37% to $554 million in the latest quarter. Operating margins jumped from 9.4% to 10.8% year-over-year but remained flat sequentially. The company is benefiting from cost reductions that are expected to continue. In the end, UnitedHealth celebrated both its latest performance and the opportunities that lie ahead. "Our businesses produced strong results again this quarter, as we continue to balance our performance around driving growth, sustaining and expanding operating margins and efficiently deploying capital," McGuire stated. "Our recent acquisitions are performing well, and our customers are responding with interest to our newest initiatives." Several analysts took the opportunity Thursday to reiterate their buy recommendations on the stock. "We believe investors will place increasing value on the company's earnings diversity," explained Goldman Sachs analyst Matthew Borsch. "The company is well positioned to withstand intensifying competition in most of the market in which [it] operates ... UNH is one of only two stocks we rate outperform."
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