UNH UnitedHealth Group Inc

By Dave Sebastian

Shares of managed-care companies rose after UnitedHealth Group Inc. (UNH) posted better-than-expected third-quarter results and raised its profit guidance.

Anthem Inc. (ANTM) shares rose 6.9%, and those of Cigna Corp.'s (CI) rose 6%. Humana Inc. (HUM) posted a 5% gain, while Centene Corp. (CNC) shares rose 4.3%.

UnitedHealth posted sales of $60.35 billion for the third quarter, up 6.71% from the comparable quarter a year ago and beating the $59.76 billion analysts polled by FactSet had expected.

The Minnesota-based company's earnings rose to $3.67 a share, up 13% from the comparable period last year. Analysts were expecting $3.55 a share.

The company said it expects profit for the full year to be between $14.15 a share and $14.25 a share, compared with its previous forecast of $13.95 a share to $14.15 a share.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

October 15, 2019 11:39 ET (15:39 GMT)

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