UnitedHealth Shares Fall on Outlook
From Bloomberg News
UnitedHealth Group Inc., the biggest U.S. health insurer, said slow job growth might make it hard to keep adding customers, sending the company’s stock down 4.4%.
Net income rose to $554 million, or 88 cents a share, in the first quarter, from $403 million, or 65 cents, a year earlier, as operating expenses fell and medical cost increases slowed, the Minnetonka, Minn.-based company said.
UnitedHealth, which had 20 million members at the end of March compared with about 18 million a year earlier, is trying to add business among large employers as it competes with Anthem Inc., Aetna Inc. and Cigna Corp.
Shares of UnitedHealth fell $2.95 to $63.95 on the NYSE.
