UnitedHealth Group Inc. (NYSE:UNH) early Tuesday posted better than expected first quarter earnings results and lifted its full-year outlook, sending its shares higher in premarket trading.

Written by StockNews.com

The Hopkins, MN-based health benefits provider reported:

• Q1 earnings per share (EPS) of $2.37, which was whopping $0.20 better than the Wall Street consensus estimate of $2.17.
• Revenues rose 9.4% from last year to $48.72 billion, also topping analysts’ view for $48.21 billion.

Looking ahead, UNH:

• raised its full-year guidance, now seeing 2017 EPS of $9.65 to $9.85. That’s up prior a prior view of $9.30 to $9.60, and well ahead of the $9.51 per share that Wall Street is looking for.
• increased its 2017 revenue outlook to $200 billion, up from a previous range of $197 to $199 billion. On average, analysts expect $198.94 billion for the year.

 Said Stephen J. Hemsley, chief executive officer of UnitedHealth Group, via press release:

“Our focus on quality and consistency in everything we do for those we serve across the health system continues to strengthen our business each quarter. These efforts are driving consistent growth and strong bottom line performance across our businesses.”

Investors greeted UnitedHealth Group’s latest results favorably, sending its stock up $3.42 (+2.05%) in premarket trading Tuesday. Year-to-date, UNH had gained 4.85% prior to today’s report, versus a 5.40% rise in the benchmark S&P 500 index during the same period.

UNH currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 12 stocks in the Medical – Health Insurance category.