UnitedHealth Group stock slides after Berkshire Hathaway exits position in the health insurer

What happened: UnitedHealth Group (UNH) banal dropped much than 3% successful premarket trading connected Monday.

What’s moving the stock: Berkshire Hathaway (BRK-A, BRK-B) disclosed that it nary longer holds a presumption successful the wellness insurer. Berkshire said it sold its full involvement of much than 5 cardinal UnitedHealth shares successful the past quarter.

In a 13F filing detailing holdings arsenic of March 31, the archetypal released nether Berkshire CEO and Warren Buffett’s successor Greg Abel, the conglomerate besides showed it accrued its involvement successful Alphabet (GOOGL, GOOG) and exited its Amazon (AMZN) investment.

What other you should know: UnitedHealth is undergoing a turnaround program launched past twelvemonth to combat falling profits, precocious aesculapian costs, and regulatory headwinds. In April, the wellness insurer bushed Wall Street’s net expectations and raised its full-year nett forecast, sending the banal soaring.

Year to date, the banal is up astir 19%, recovering from a crisp sell-off successful January erstwhile the Trump medication projected a lower-than-expected summation for 2027 Medicare Advantage plans.

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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