UnitedHealth Removed from Goldman Sachs’ “Conviction Buy” List (UNH)

in Gold Gold Investing by admin — March 16, 2010 6:00 am | no comments

Health care company UnitedHealth Group Inc. ( UNH ) saw its shares removed from Goldman Sachs’ prestigious “Conviction Buy” List on Tuesday. The analyst maintained its “Buy” rating on the stock, however. Goldman said the move was spurred by its desire to reduce its exposure to Medicare Advantage, which is an option Medicare beneficiaries have to receive benefits through private insurance plans. UnitedHealth Group shares fell 28 cents, or -0.9%, in premarket trading Tuesday. The Bottom Line We have avoided shares of UNH since our early June 2008 coverage began, when the stock was trading at $33. The company has a .09% dividend yield, based on last night’s closing stock price of $32.53. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $35 price level. We would remain on the sidelines for now. UnitedHealth Group Inc. ( UNH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .