What's Going On With Health Insurance Firm UnitedHealth Stock Today?

UnitedHealth Group Inc UNH shares are trading with a session volume of 4.108 million compared to an average volume of 3.532 million, as per data from Benzinga Pro.

During CNBC’s ‘Halftime Report,’ Karen Firestone, Aureus Asset Management chairman and CEO, said that she owned UnitedHealth shares and selling them was a mistake.

She says, “This is a great company that has a lot of momentum…We think it still has big cash flow, it is a dividend payer, it’s a leader in its field, and we think it will continue to show better numbers than the Street as now we are thinking about.”

Wednesday, UnitedHealth’s president and chief operating officer, Dirk McMahon, announced to retire, effective April 1, 2024, after serving for more than 20 years in the company. A replacement for McMahon has not been named.

In January, UnitedHealth reported a net profit of $22.4 billion in fiscal year 2023 and around $5.5 billion for the fourth quarter. Group revenues for the fourth quarter rose 14% year-over-year to $94.4 billion, topping analysts’ estimates of $92.14 billion.

The full-year medical care ratio is 83.2% compared to 82% last year, driven by previously noted outpatient care, primarily serving seniors and the business mix. The fourth quarter medical care ratio was 85%. 

Wednesday,  CVS Health Corp CVS reported its fourth-quarter financial performance. Investors were concerned about rising healthcare costs for insurers, and the worst was feared for CVS Health, like its peers Humana Inc HUM and UnitedHealth Group.

Price Action: UNH shares are up 0.11% at $519.95 on the last check Thursday.

Photo Vlad Deep for Unsplash