Palumbo Wealth Management CEO and CIO Philip Palumbo discussed more on United Health Group Market Trends and ‘The Claiman Countdown’.
The shares of the United Health Group fell more than 15% in the morning trading on Thursday, when the Wall Street Journal reported that the US justice department was investigating the company for potential medicare fraud.
The latest news connects to the health insurer’s crises, including several government inquiries, A Sudden change in top leadership And a drawn approach in front of increasing medical costs.
Investors and analysts stated that the details on the investigation were limited, they raised investors concerns.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| Uhhh | United Health Group Inc. | 291.85 | +17.68 |
+6.45% |
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“Stock is already in a doghouse with investors, and additional uncertainty will only stack,” said James Harlo, senior vice -president of Novare Capital Management, and additional uncertainty will only stack. “
However, the company said that it was not informed by DOJ about this criminal investigation.
The news of investigation is as follows CEO Andrew Vit Sudden departure and its 2025 forecast return, which on Tuesday recorded a decline of 18% in shares at a four -year low.
The Chief Executive Officer of the United Health Group Inc., Andrew Witti, comes to hear a Senate Finance Committee at Washington, DC on 1 May, 2024. (Al Drago / Bloomberg Getty Image / Getty Image)
Susanaah Streater, head of money and markets at Hargrevs Lansdowne, said, “The United Health Group has been turned into a crisis without the end.
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If the premaraket is losed, the market captivity of the United Health is $ 280 billion, or about half of $ 530 billion recorded on April 16, a wonder, a wonder, a day before a wonder, Miss had made a celloff in her shares a day before a surprising earnings.
Health insurance industry Following this month’s trial, it has come under government investigation, accusing the three major American insurers of paying the brokers of paying kickback to run patients in their plans.
In February, the WSJ revealed an investigation into a civil fraud in the Medicare practices of the United Health, while American Senator Chak Grassley launched an investigation into the company’s billing methods, demanding detailed compliance records.
Sen Chak Grassley (R-IA) speaks with reporters before a vote in the US Capital Building before a Senate lunch in Washington, DC on October 19, 2021. (Anna Moneymaker / Getty Image / Getty Images)
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For decades, the company thrives by taking advantage of its dominance in insurance and growth in the Medicare Market, US government Programs that cover medical costs for the elderly.
This streak of strong performance came under pressure just a few months after a senior executive was tragically killed, by a person allegedly angry at the insurer.
