Health insurance provider UnitedHealth (UNH) has been through a rough time after the assassination of UnitedHealthcare CEO Brian Thompson last week with shares down 15.7% since that event. This prompted company CEO Andrew Witty to weigh in on the death of his colleague and the sentiment toward the health insurance industry.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Witty mourned the death of Thompson while also sympathizing with building frustrations of the health insurance industry. Public opinion has been split with many sympathizing with Luigi Mangione, the suspected shooter of Thompson.
Speaking on the matter, Witty said health insurers, employers, and the government need to “improve how we explain what insurance covers and how decisions are made.” Interestingly, it appears Mangione was never insured by UnitedHealthcare. Instead, police believe UnitedHealth being the largest U.S. health insurance company was behind his decision to allegedly murder Thompson.
Public Sentiment Turns Against Health Insurers
It’s no secret that many in the U.S. view health insurance companies with contempt. However, people are becoming more open about their disdain following the death of Thompson. That saw social media flooded with stories about insurance claims being denied, alongside other frustrations. In truth, many appeared sympathetic to the shooter while lacking empathy for Thompson.
This public opinion has emboldened people to make open threats against their insurance providers. Florida woman Briana Boston was arrested this week after arguing with Blue Cross Blue Shield over a denied claim. During that debate, she said “Delay, deny, depose. You people are next.” This echoes the words “deny,” “defend,” and “depose” that were found on the bullet casings at Thompson’s murder scene.
Rising threats also resulted in “Wanted” posters of healthcare executives being posted in New York City, which is where Thompson was killed. These posters include images of healthcare company leaders and warnings that they “should not feel safe.”
Is UNH Stock a Buy, Sell, or Hold?
Despite the recent controversy, analysts’ consensus for UnitedHealth is Strong Buy based on 18 buy and one Hold ratings over the last three months. With that comes an average price target of $624.63, a high of $677, and a low of $595. This represents a potential 21.5% upside for UNH shares.
