UnitedHealth Cancels Investor Day After Executive Brian Thompson Is Shot
UnitedHealth Group was scheduled to host its annual Investor Day Wednesday but the event was cancelled following the fatal shooting of its insurance unit CEO.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Delivered daily
Kiplinger Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.
Sent five days a week
Kiplinger A Step Ahead
Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.
Delivered daily
Kiplinger Closing Bell
Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.
Sent twice a week
Kiplinger Adviser Intel
Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.
Delivered weekly
Kiplinger Tax Tips
Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.
Sent twice a week
Kiplinger Retirement Tips
Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement
Sent bimonthly.
Kiplinger Adviser Angle
Insights for advisers, wealth managers and other financial professionals.
Sent twice a week
Kiplinger Investing Weekly
Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.
Sent weekly for six weeks
Kiplinger Invest for Retirement
Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.
UnitedHealth Group (UNH) abruptly canceled its Investor Day presentation shortly after it began this morning following media reports that the CEO of its insurance unit had been fatally shot.
Brian Thompson, who had led UNH's insurance segment since 2021, was shot in midtown Manhattan around 6:45 am Eastern Time on Wednesday morning, according to CNBC. He was transported to a local hospital in critical condition but was pronounced dead shortly thereafter.
UNH's Investor Day presentation had begun at 8:00 am Eastern Time in New York City, but quickly came to a close.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"I'm afraid that we – some of you may know we're dealing with a very serious medical situation with one of our team members," UnitedHealth Group staff said during the presentation, according to the transcript obtained by CNBC. "And as a result, I'm afraid we’re going to have to bring to a close the event today, which I'm sure you'll understand."
Ahead of the presentation, UNH provided its outlook for fiscal 2025, calling for revenue in the range of $450 billion to $455 billion and earnings per share between $29.50 to $30.00.
"Overall, the outlook is in-line with expectations and represents a solid starting point for a company that guides conservatively, though the devil will be in the details," said Oppenheimer analyst Michael Wiederhorn, who has an Outperform (Buy) rating on the Dow Jones stock.
Where does Wall Street stand on UnitedHealth?
In fact, most of Wall Street is already bullish on the blue chip stock, even as its lagged the broad market this year. Indeed, shares of UNH are up 16% since the start of 2024 on a total return basis (price change plus dividends) basis vs the S&P 500's 28.5% gain.
According to S&P Global Market Intelligence, the average analyst target price for UNH stock is $629.19, representing implied upside of nearly 3% to current levels. Additionally, the consensus recommendation is Strong Buy.
Financial services firm UBS Global Research is one of the more bullish outfits on UNH stock with a Buy rating and $650 price target.
"Following the election, a Trump presidency is likely to be favorable to Medicare Advantage with higher rate updates and less regulation," says UBS analyst AJ Rice. "This puts UNH at the forefront to benefit the most as it gains market share in 2025 while remaining in its target margin range for MA. Additionally, a Republican administration is likely to be more lenient towards anti-trust, allowing UNH to have more acquisition opportunities long term."
Related Content
-
Quiz: Do You Know How to Avoid the "Medigap Trap?"Quiz Test your basic knowledge of the "Medigap Trap" in our quick quiz.
-
5 Top Tax-Efficient Mutual Funds for Smarter InvestingMutual funds are many things, but "tax-friendly" usually isn't one of them. These are the exceptions.
-
AI Sparks Existential Crisis for Software StocksThe Kiplinger Letter Fears that SaaS subscription software could be rendered obsolete by artificial intelligence make investors jittery.
-
5 Top Tax-Efficient Mutual Funds for Smarter Investing
Mutual funds are many things, but "tax-friendly" usually isn't one of them. These are the exceptions.
-
Why Invest In Mutual Funds When ETFs Exist?Exchange-traded funds are cheaper, more tax-efficient and more flexible. But don't put mutual funds out to pasture quite yet.
-
Social Security Break-Even Math Is Helpful, But Don't Let It Dictate When You'll FileYour Social Security break-even age tells you how long you'd need to live for delaying to pay off, but shouldn't be the sole basis for deciding when to claim.
-
I'm an Opportunity Zone Pro: This Is How to Deliver Roth-Like Tax-Free Growth (Without Contribution Limits)Investors who combine Roth IRAs, the gold standard of tax-free savings, with qualified opportunity funds could enjoy decades of tax-free growth.
-
One of the Most Powerful Wealth-Building Moves a Woman Can Make: A Midcareer PivotIf it feels like you can't sustain what you're doing for the next 20 years, it's time for an honest look at what's draining you and what energizes you.
-
Stocks Make More Big Up and Down Moves: Stock Market TodayThe impact of revolutionary technology has replaced world-changing trade policy as the major variable for markets, with mixed results for sectors and stocks.
-
I'm a Wealth Adviser Obsessed With Mahjong: Here Are 8 Ways It Can Teach Us How to Manage Our MoneyThis increasingly popular Chinese game can teach us not only how to help manage our money but also how important it is to connect with other people.
-
Looking for a Financial Book That Won't Put Your Young Adult to Sleep? This One Makes 'Cents'"Wealth Your Way" by Cosmo DeStefano offers a highly accessible guide for young adults and their parents on building wealth through simple, consistent habits.
