UnitedHealth Group Inc. (NYSE: UNH), is the focus of attention today following reports that a senior executive was shot in Manhattan.
A spokesperson for the NYPD confirmed that a 50-year-old male was fatally shot around 06:46 am. ET in Manhattan.
The representative did not confirm that the victim was Brian Thompson, the chief executive officer of UNH’s Insurance Business.
The shares of the health services provider opened Wednesday with a 2.0% gain.
UnitedHealth cancels investor day
Since April 2021, Brian Thompson has led the largest US health insurer.
According to the NYPD representative, he was immediately transported to Mount Sinai West Hospital following the shooting. He was pronounced dead on arrival.
We are investigating the incident as a targetted attack, but have not yet made any arrests. The suspect is a male white wearing black pants, a black hoodie and a gray backpack.
They added that he used a gun equipped with a silentr to shoot the man aged 50.
UnitedHealth has yet to confirm officially if the victim is indeed its executive Brian Thompson.
The New York Hilton Hotel in Manhattan’s midtown hosted its Investor day on Wednesday.
Some of you may already be aware that we are dealing with a very serious medical situation involving one of our team.
As a result, we’re going have to close this event today,” said the company’s employees to its investors today.
UNH issues conservative guidance in November
In October, UNH announced its financial results for third quarter which exceeded Street estimates.
The health services giant still issued conservative guidance citing the expected weakness in the government-driven segment of its health insurance segment.
UnitedHealth expects to earn $30 per share by 2025. Analysts had predicted a higher share price of $31.18.
Cantor Fitzgerald analyst Sarah James still sees it as a “gold standard stock”.
UNH pays a current dividend yield of 1.36 %, making it even more attractive to income investors.
Is UnitedHealth stock a good investment?
Stephen Baxter, an analyst at Wells Fargo, believes that UnitedHealth shares will continue to rise in value by 2025.
Baxter reiterated last month his “overweight rating” on UNH and raised his target price to $670, which suggests a 10% increase from current levels.
The investment firm acknowledged concerns, but said that the risk-reward ratio for Medicare Advantage will improve once Donald Trump is inaugurated in January.
Baxter is bullish about UnitedHealth even though it’s medical costs exceeded expectations in the last reported quarter, as it paid more and received lower reimbursements for its government-backed plan.
This post UnitedHealth executive fatally slain; investor day cancelled first appeared on ICD
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