UnitedHealth Group Inc.'s projections for earnings and revenue growth next year fall well short of Wall Street's expectations for the nation's largest health insurer.
The Minnetonka, Minn., company released its initial 2014 forecast on Monday, a day ahead of its annual investor conference in New York City. The company said it expects earnings of $5.40 to $5.60 per share on $128 billion to $129 billion in revenue. That widely misses analysts' average estimate of $5.67 per share on revenue of $132.2 billion, according to FactSet.
Funding cuts to Medicare Advantage coverage have fueled UnitedHealth's relatively conservative expectations for this year and next. UnitedHealth is the nation's largest provider of Medicare Advantage plans, which offer government-subsidized coverage for elderly and disabled people. The insurer has nearly 2.9 million people enrolled in the plans.
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