Since the horrific murder of one of its senior executives last month, UnitedHealth’s value has fallen by approximately $63 billion.
The group’s stock price has decreased by almost $100 since December 4, when UnitedHealthcare CEO Brian Thompson was gunned down on a New York City street by suspect Luigi Mangione.
As of Wednesday, the stock price was valued at approximately $510 per share, down from $610 per share on December 4.
Despite Thompson’s murder putting concerns about the United States healthcare system to the forefront, UnitedHealth reported a higher-than-expected profit in the fourth quarter of 2024.
Group executives began a discussion with analysts on Thursday morning by thanking them for the condolences they had received since Thompson’s death.
“Brian helped build this company and forged deep, trusted relationships for over 20 years, and the positive impact he had on people will be felt for years to come,” said John Rex, the company’s chief financial officer.
UnitedHealth executives said adjusted earnings for the three months ending in December were $6.81 per share, up 10.6 percent from the same period the previous year and 9 cents above of the Wall Street consensus projection.
Revenues reportedly increased by 6.4 percent to $100.8 billion, well inside analysts’ projections of $101.76 billion.
UnitedHealthcare is the nation’s largest health insurer, covering more than 49 million individuals in the United States. It also owns a big pharmacy benefit manager, which manages prescription drug coverage, as well as a developing business that provides care and technical assistance.
The company’s full-year profit, which had risen every year for over a decade, fell 36% to $14.4 billion in 2024. The bottom line was damaged partially by charges related to a large cyberattack that hit its Change Healthcare division early this year.
It was also stunned last month by Thompson’s unexpected death as he walked to the company’s annual investor conference in midtown Manhattan.
Mangione, a 26-year-old suspect, is facing federal and state charges in connection with the shooting.
Prosecutors said Mangione, who was not a UnitedHealthcare customer, was stopped while carrying a notebook expressing enmity toward the health insurance sector and, in particular, affluent executives.
The shooting prompted an outpouring of complaints about insurance providers. A survey taken a few weeks after the shooting revealed that the majority of Americans thought health insurance profits or coverage denials are to blame for Thompson’s death.
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