UnitedHealth Group Incorporated (NYSE:UNH) shares rose more than 5% on Friday following the company’s Q2 results, with EPS of $5.57 coming in better than the Street estimate of $5.21. Revenue was $80.3 billion, compared to the Street estimate of $79.68 billion. Overall, the strong results highlight the company's positioning despite an unpredictable and volatile economic backdrop. Due to the beat, the company raised its full 2022-year guidance to $21.40–21.90 from $21.20–21.70.

Analysts at Oppenheimer raised their 2022/2023/2024 EPS estimates to $21.88/$24.80/$28.03 from $21.68/$24.54/$27.84 following the results. The analysts also increased their price target on the company’s shares to $610 from $600, while reiterating their outperform rating.