Palumbo Wealth Management and Cio Philip Palumbo discusses UNITEDHELHELTH market trends and more on Claman.
UNITEDHELHELHELTH GROUP shares fell by more than 15 % in trading early on Thursday, after the Wall Street Journal reported that the US Department of Justice was investigating the company due to possible medical care fraud.
The latest news adds to a set of problems affiliated with the health insurance company, including multiple government investigations, a Sudden change in the high leadership And withdrawn expectations in the face of high medical costs.
Investors and analysts indicated that although the details of the investigation were limited, it has increased investor concerns.
| index | protection | last | Changing | % Change |
|---|---|---|---|---|
| United Nations | UNITEDHEALTH GROUP Inc. | 257.20 | -50.76 |
-16.48 % |
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“The arrow is already in the dog’s house with investors, and only additional uncertainty will accumulate,” said James Harlo, the first vice president of Novar Capital Management, who has shares in United Holth.
However, the company said it was not notified by the Ministry of Justice regarding this criminal investigation.
It follows the investigation news CEO Andrew Weati The sudden decrease and withdrawal of its expectations for 2025, which led to a 18 % decrease in stocks to a four -year lowest level on Tuesday.
Andrew Weii, CEO of UNITEDHELHELTH GROUP Inc. arrives. , To the hearing of the Senate Finance Committee in Washington, DC, on May 1, 2024. (Al Drao / Bloomberg via Getty Images / Getty Images)
“The United Health Group is apparently soaked without end. Investors are preparing for another major match of unrest in light of reports on the investigation of the Ministry of Justice,” said Susanna Striter, the head of money and markets in Hargrif Lancedawn.
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If the pre -market losses bears, the market value will receive $ 280 billion, or nearly half a $ 530 billion registered on April 16, that is, a day before participating in sudden profits in sales in its shares.
the Health insurance industry It was subjected to government auditing after a lawsuit this month accused three major American insurance companies of paying their doors to the brokers to direct patients to their plans.
In February, WSJ revealed an investigation of civil fraud in UNITEDHELHELTH medical care, while the American Senator Chuck Grassley launched an investigation into the company’s bills methods, calling for detailed compliance records.
Senator Chuck Grasli (R-Class) speaks with correspondents before voting in the American Capitol building in front of the Senate lunch on October 19, 2021 in Washington, DC. (Anna Moneymaker / Getty Images / Getty Images)
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For decades, the company flourished by taking advantage of its dominance in insurance and growth in the medical care market, US government The program that covers the medical costs of the elderly.
This strong performance chain was under pressure a few months after a tragic killing of a senior executive manager, and an angry man from the insurance company’s practices.
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