Key Points
UnitedHealth Group bought some insiders this week by resigning from the decline in stock. Company director Kristen Gil purchased 3,700 shares worth around $1 million on Thursday.
The UnitedHealth Group, which has made its stocks a tailspin during a period of upheaval for the healthcare giant, has intervened this week by some of its insiders to buy a decline in stock. Company director Kristen Gill purchased 3,700 shares worth about $1 million on Thursday, while Timothy Patrick Flynn and John Noseworthy scooped about 1,500 and 300 shares on Wednesday, respectively. UnitedHealth shares plummeted to nearly 11% on Thursday to $274.35, following a report by the Wall Street Journal that the Department of Justice is conducting a criminal investigation into possible Medicare fraud. The shares recovered 6% on Friday, cutting their weekly losses to 23%. UNH 5D Mountain UnitedHealth The reported investigation continues with the surprise exit of Andrew Witty, CEO of UnitedHealth Group. UnitedHealth Group shares have fallen by about 43% this year, following a series of set-ups from the company. The company has tackled historical cyberattacks, higher than expected medical costs and public hit torrents following the murder of UnitedHealthcare CEO Brian Thompson.
