Stephens analyst Scott Fidel raised his 2020-2022 adjusted EPS estimates for UnitedHealth and increased his price target for the stock to $333 from $325 after the company reported what he called "a solid beat on a better-than-expected MLR" in the fourth quarter. Medicaid was a laggard for UnitedHealth in 2018-2019, but the company said it saw positive traction in Q4 and Fidel believes underlying trends in that area appear to be improving, while the company's tone on MA growth was "very optimistic," he tells investors. He maintains an Overweight rating on UnitedHealth shares.

Deutsche Bank analyst George Hill raised the firm's price target on UnitedHealth to $562 from $545 and keeps a Buy rating on the shares. The company reported a Q1 earnings beat with many moving pieces caused by the cyberattack on Change Healthcare, which left earnings quality and guidance up to investor interpretation, the analyst tells investors in a research note. The firm sees the full impact of the hack, as well as conservatism around cost trend and utilization would impact UnitedHealth earnings by only 2% for the full year.

Notable gainers among liquid option names this morning include Genuine Parts (GPC) $159.09 +15.03, Globe Life (GL) $66.97 +3.74, Anthem (ELV) $532.10 +23.13, United Continental (UAL) $50.59 +1.84, and UnitedHealth (UNH) $494.80 +15.81.

Unusual total active option classes on open include: Wrap Technologies (WRAP), AstraZeneca (AZN), JetBlue (JBLU), United Continental (UAL), Taiwan Semi (TSM), Nokia (NOK), EBay (EBAY), Maplebear Inc (CART), Airbnb (ABNB), and UnitedHealth (UNH).