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.
Sign up for Kiplinger’s Free E-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
-
Amazon Now Delivers Fresh Groceries in 1,000 Cities: What You Need to KnowAmazon's expanded grocery delivery service costs less than Amazon Fresh. Is it a better deal?
-
Stocks Struggle Ahead of Busy Fed Week: Stock Market TodayThe minutes from the July Fed meeting will be released Wednesday, while Chair Powell will deliver a key speech at Jackson Hole on Friday.
-
Stocks Struggle Ahead of Busy Fed Week: Stock Market Today
The minutes from the July Fed meeting will be released Wednesday, while Chair Powell will deliver a key speech at Jackson Hole on Friday.
-
Is Crypto Investing Coming to a Credit Union Near You?Credit unions are getting in on crypto investing through partnerships with third-party platforms, but the risks to investors still apply.
-
Seven Hidden Downsides of Dividend Investing, From a Financial AdviserDividend investing could be draining your wealth with unexpected costs and limited growth potential. Here are some downsides, along with smarter strategies to take control of your retirement income.
-
How to Position Your Business for a Lucrative Exit Despite Private Equity's SlowdownAs private equity firms seek strongly performing companies, crafting a narrative about your business' high-quality assets and future opportunities can make a lucrative sale possible.
-
Don't Regret Buying a Home: An Expert Guide to Navigating Today's Tough Housing MarketWhether you're a first-time buyer, want to upsize/downsize or move closer to work or family, it's critical to stay within your budget and have an emergency fund.
-
1031 Exchanges Aren't Just for Big Real Estate Deals: An Expert's Playbook for Regular Property OwnersOne of the biggest mistakes property owners make is not realizing they're eligible for tax deferral through a Section 1031 like-kind exchange.
-
Timing Your Retirement: A Financial Professional's Guide on When to Say WhenFirst, ask yourself what kind of retirement you want: big and splashy or simple and sweet. Then you can run the numbers to help choose just the right moment.
-
Three Common Social Security Myths in 2025: A Retirement Strategist Explains What You Need to KnowTaxes on benefits haven't been eliminated, and based on current projections, the program isn't going bankrupt. Understanding the truth about Social Security and knowing what you can control can help you better prepare for retirement.
