UnitedHealth Insiders Buy Dips Amid Crisis

The share price of UnitedHealth plummeted nearly 11% to $274.35 on Thursday, following a report from The Wall Street Journal indicating that the Department of Justice is investigating potential Medicare fraud. However, the stock experienced a slight recovery on Friday, rebounding by 6% and reducing the total weekly loss to 23%.

This investigation comes in the wake of UnitedHealth Group’s CEO Andrew Witty announcing his unexpected departure, with former CEO Stephen Hemsley set to return to lead the company. The overall decline in UnitedHealth’s stock this year stands at approximately 43%, attributed to a series of challenges including a significant cyberattack, rising medical costs, and public backlash following the tragic murder of UnitedHealthcare CEO Brian Thompson.