Reported 2 days ago
UnitedHealth Group's shares dropped 19% after the company cut its annual profit forecast due to unexpectedly high medical costs, primarily driven by increased demand for Medicare services. This announcement not only shocked investors who anticipated stability in the healthcare demand but also negatively impacted shares of other health insurers, leading to significant losses across the sector. UnitedHealth now expects adjusted profit per share for 2025 to be between $26 and $26.50, down from a previous forecast of $29.50 to $30.
Source: YAHOO