UnitedHealth falls; cites pressure in commercial business
UNH•Analyst says investors may be taking profits
** "Perhaps investors are using some ongoing concerns in the commercial margins to take profits after some big stock movement in recent months" - Morningstar analyst Julie Utterback.
** Overall, it was a good update, but investors may be nitpicking and taking profits after about six months of significant outperformance from UnitedHealth and the health insurance industry versus the rest of the market - Utterback.
** Including session moves, UNH was up 18.5% year to date.
UnitedHealth shares fall after conference remarks
** Shares of health insurer UnitedHealth UNH.N fell 3.1% to $388.67.
** The company said at an industry conference that nothing has changed from its second-quarter results, with its Medicare business "performing better than expected" and Medicaid plans performing in line with expectations.
** However, it said its commercial business is facing pressure from aggressive billing practices by healthcare providers, as well as changes in its patient population due to a higher mix of self-insured members and individuals transitioning from Medicaid coverage.
