UNH
UNITEDHEALTH GROUP INCEvidence as of 2026-09-10The desk's Snapshot
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Overview · UNITEDHEALTH GROUP INC
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and healt…
Management team
- Mr. Christopher R. Zaetta · Executive VP, Chief Legal Officer & Corporate SecretaryFind on LinkedIn
- Mr. Terry Clark · Executive VP & Chief Marketing OfficerFind on LinkedIn
- Mr. Chris Zaetta · Executive VP, Chief Legal Officer & Corporate SecretaryFind on LinkedIn
- Mr. Rupert Bondy · Senior Counsel & Executive VP of Governance, Compliance and SecurityFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.3 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance is Mixed ( -0.3 of a possible +2; confidence high). Revenues for single fiscal quarters have been roughly flat, with fiscal Q3 2025 (fiscal quarter ended 2025-10-24) revenue at $ 113,161,000,000 and fiscal Q1 2026 (fiscal quarter ended 2026-04-30) and fiscal Q2 2026 (fiscal quarter ended 2026-07-31) revenues at $ 111,721,000,000 and $ 112,032,000,000 respectively. Single-quarter operating income rose from $ 5,150,000,000 in fiscal Q2 2025 (fiscal quarter ended 2025-07-31) to $ 7,991,000,000 in fiscal Q2 2026, and single-quarter net income increased from $ 3,406,000,000 to $ 5,484,000,000 over the same comparison.
Diluted EPS for the comparable single quarters increased from $ 3.74 in fiscal Q2 2025 to $ 6.04 in fiscal Q2 2026, while diluted weighted-average shares outstanding showed only modest change at about 910,000,000. Market signals are mixed: 6‑month momentum is strong at + 39.2% (91st percentile) and 12_1 momentum is + 70.6% (88th percentile) as of 2026-09-09, but 3‑month momentum is - 4.8%. Valuation and cash metrics show trailing twelve-month FCF of $ 28,675,000,000, price/FCF of 12.42, EV/EBITDA of 12.83, TTM P/E of 20.4, cash of $ 28,585,000,000 and reported debt of $ 69,501,000,000 (implying net debt roughly $ 40,900,000,000 as of 2026-06-30). Filings expanded risks around AI/data integrity, cybersecurity, PBM regulation and provider market concentration, and the 2025 Annual Report reiterated that forward‑looking statements are not guarantees. Institutional 13F aggregate value reported at $ 217.33B for the quarter ended 2026-03-31 declined 18.9% qoq with 466 reported exits.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenues for single fiscal quarters have been roughly flat across the most recent comparable quarters: fiscal Q3 2025 (2025-07-01 to 2025-09-30, 3mo) revenue was $113,161,000,000 and fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) revenue was $111,721,000,000, and fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo) revenue was $112,032,000,000.
XBRL companyfacts · 0000731766-25-000305Operating income (single-quarter) increased from $5,150,000,000 in fiscal Q2 2025 (2025-04-01 to 2025-06-30, 3mo) to $7,991,000,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0000731766-25-000236Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 2025 Annual Report added explicit risk language that "Any or all forward-looking statements in this Annual Report on Form 10-K ... may turn out to be wrong" and that forward-looking statements "are not guarantees of future performance or results and are subject to risks, uncertainties and assumptions which are difficult to predict or quantify."
10-K filed 2026-03-02The 2025 Annual Report expanded and added multiple data- and AI-related risk disclosures, including that the business depends on the integrity and timeliness of the data it uses and that failures in systems "including systems powered by or incorporating artificial intelligence (AI)" could cause product failures, customer loss or operational problems.
10-K filed 2026-03-02Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Momentum over the past 6 months is +39.2% and that value ranks in the 91th percentile of the 548-stock research universe as of 2026-09-09.
Moneyta signal set · 2026-09-09weakened in debateMomentum using the 12_1 measure is +70.6% and ranks in the 88th percentile of the 548-stock research universe as of 2026-09-09.
Moneyta signal set · 2026-09-09weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional holders reported aggregate 13F holdings valued at $217.33B for the reported quarter ended 2026-03-31, with 3,019 holders and a net holder_count_delta_qoq of -278.
13F holdings · 3019 filers · as of 2026-03-31Top reported 13F holders in the quarter ended 2026-03-31 include BlackRock, Inc. at $19.88B and VANGUARD CAPITAL MANAGEMENT LLC at $15.93B.
13F holdings · 3019 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
UnitedHealth Group executives said the company's turnaround remained on track and cited continued strength in Medicare Advantage, Medicaid performance tracking toward the favorable end of expectations, and operational improvements at Optum Health, according to a September 10, 2026 headline.
News · finance.yahoo.com · 2026-09-10UnitedHealthcare plans to remove prior-authorization requirements from a broad range of healthcare services beginning October 1 and aims to eliminate such requirements for about 30% of healthcare services, per a September 9, 2026 headline.
News · finance.yahoo.com · 2026-09-09Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Patrick Hugh Conway (Chief Executive Officer, Optum) reported a sale of 1,169 shares valued at "$456k" on 2026-08-21; the filing does not indicate a trading plan.
Form 4 · Conway Patrick Hugh (Chief Executive Officer, Optum) · $456k sold · 2026-08-21Patrick Hugh Conway (Chief Executive Officer, Optum) reported a sale of 500 shares valued at "$205k" on 2026-08-05; the filing does not indicate a trading plan.
Form 4 · Conway Patrick Hugh (Chief Executive Officer, Optum) · $205k sold · 2026-08-05Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model-derived implied free cash flow (FCF) growth rate that today’s price would justify is -0.0212 (a -2.12% annual rate) under the stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closePrice-to-free-cash-flow (price/FCF) based on trailing twelve-month FCF is 12.42.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several company-specific fundamentals point to an improving operating and earnings profile even with roughly flat headline revenue: single-quarter operating income, net income, and diluted EPS all rose materially year-over-year in fiscal Q2 2026, while point-in-time long-term debt trended lower and diluted shares outstanding declined modestly. Market signals show strong multi-month momentum and relative strength versus the market, a sustained golden-cross technical condition, and a meaningful dividend yield with multi-year payout growth, which together indicate positive market reception in the recent window. Trailing cash flow metrics show sizable absolute free cash flow and operating cash flow, and a moderate price/FCF multiple, which supports an interpretation that current price embeds measurable cash-generation value. In response to risk-focused filings and insider sales, those disclosures are explicit acknowledgements of potential risks (per the filings) but do not negate the observed quarter-to-quarter improvements in operating results or the reported cash-flow generation; similarly, insider sales are small dollar amounts in the context of institutional ownership levels and ETF weightings that remain substantial.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.32
44 surviving claims rest on 22 distinct sources; the heaviest analyst carries 20% of them, and 96% of what the desk raised survived the debate.
The read rests on a moderate breadth of sources (22) supporting 44 surviving claims, so there is some cross-evidence but not deep redundancy for every point. The single analyst contributing one-fifth of claims and the very high internal survival rate (96%) imply the desk reached strong consensus but also that the bundle is somewhat concentrated and could be fragile to a small number of contrary data points or a new filing.
Peer context · computed, not argued
12-1 momentum ranks 2nd of 4 in Healthcare Plans (as of 2026-09-09).
6-month relative strength ranks 2nd of 4 in Healthcare Plans (as of 2026-09-09).
90-day volatility ranks 4th of 4 in Healthcare Plans (as of 2026-09-09).
dividend yield ranks 2nd of 4 in Healthcare Plans (as of 2026-09-09).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 3 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.8 to the score
9 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−1.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.7 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.6 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
20 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.8 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on UNH Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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