UnitedHealth stock plummets
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Key Takeaways UnitedHealth Group shares rebounded modestly after the health insurer on Tuesday pulled its outlook and announced its CEO had stepped down, causing shares to plummet.Analysts from UBS, Oppenheimer,
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After the health insurer pulled its outlook for the year, analysts rushed to cut their predictions on the stock.
UnitedHealth (NYSE:UNH) stock looks attractive - making it a good pick to buy at its current price of around $320.
UnitedHealth Group (UNH) stock opened more than 2.5% higher on Wednesday following the previous session's staggering loss of 17.8%. The fallout from the largest private health insurer in the US suspending its guidance as it deals with higher than expected medical costs has sent shivers down the spines of institutional shareholders.
UnitedHealth has faced several headwinds in the recent past, ranging from a cyberattack, which had greater than initially realized impacts, to the tragic killing of its CEO, which caused the company to suffer harsh public backlash over the company's and industry practices.
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The Dow Jones Industrial Average looked set to open in the red Tuesday after one of its 30 components named a new CEO and suspended its guidance. The blue-chip index was on track to open down 140 points.
UnitedHealth (UNH) stock in focus as Bank of America downgrades amid CEO change and guidance withdrawal which follows a spike in medical activity. Read more here.