UnitedHealth star ratings data should ease concerns, says Barclays

Barclays keeps an Overweight rating on UnitedHealth (UNH) with a $352 price target after the company announced that a preliminary review of 2026 star ratings data shows 78% of its Medicare Advantage membership will be in a 4-star or higher plan, which is consistent with its 76% bonus membership in 2025 star ratings. The stock in premarket trading is up 4% to $320.25. The new ratings impact the 2027 payment year, and should help alleviate investor concerns, the analyst tells investors in a research note. The firm sees the news as solidifying UnitedHealth’s investment thesis around multi-year margin improvement.