Here’s Why UnitedHealth Group Incorporated (UNH) Outperformed in 2022
Ruane, Cunniff & Goldfarb, an investment adviser managing Sequoia Fund, released its Q4 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 8.81% compared to a 7.56% return for the S&P 500 Index. The fund returned -30.52% in 2022 compared to -18.11% for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Sequoia Fund highlighted stocks like UnitedHealth Group Incorporated (NYSE:UNH) in the Q4 2022 investor letter. Headquartered in Minnetonka, Minnesota, UnitedHealth Group Incorporated (NYSE:UNH) is a healthcare company. On March 20, 2023, UnitedHealth Group Incorporated (NYSE:UNH) stock closed at $476.96 per share. One-month return of UnitedHealth Group Incorporated (NYSE:UNH) was -2.92%, and its shares lost 5.61% of their value over the last 52 weeks. UnitedHealth Group Incorporated (NYSE:UNH) has a market capitalization of $447.319 billion.
Sequoia Fund made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its Q4 2022 investor letter:
"UnitedHealth Group Incorporated (NYSE:UNH) was among Sequoia's best performing stocks this year, thanks to typically strong financial results and increased appreciation for the business' relative insensitivity to the broader economy. For the full year 2022, United's revenues and EPS are expected to be up approximately 13% and 17%, respectively. Versus 2019, the company's revenues and EPS are expected to have compounded at annual rates of approximately 10% and 14%, respectively.
UnitedHealth Group may not be a particularly beloved company, but it is one of the more entrenched businesses we've come across. Managed care, in its various forms-commercial risk, commercial fee, Medicare Advantage, and managed Medicaid- is an utterly essential component of our healthcare system. And in managed care, no one is bigger, more diversified or better run than United. In addition to its managed care business, United owns and operates the country's third largest pharmacy benefit manger and is also the single largest owner by a wide margin of non-hospital care assets, including physician practices, urgent care centers, and ambulatory surgical centers...” (Click here to read the full text)
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UnitedHealth Group Incorporated (NYSE:UNH) is in 23rd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 110 hedge fund portfolios held UnitedHealth Group Incorporated (NYSE:UNH) at the end of the fourth quarter which was 110 in the previous quarter.
We discussed UnitedHealth Group Incorporated (NYSE:UNH) in another article and shared the list of best strong buy stocks to invest in. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
