UnitedHealth Group Inc UNH shares closed Tuesday’s session lower following a Bloomberg report suggesting a U.S. Department of Justice criminal probe into the company is broader than previously known, according to people familiar with the matter.
What To Know: Per Bloomberg, the investigation is now scrutinizing business practices at the company’s pharmacy benefit manager, Optum Rx, as well as payments to its physicians. This newly revealed scope is in addition to an ongoing criminal investigation by the department’s fraud unit into UnitedHealth’s Medicare Advantage billing practices.
Per Tuesday’s Bloomberg report, the Justice Department has not accused UnitedHealth of any wrongdoing, and the existence of an investigation does not mean charges will be filed. Bloomberg says the DOJ declined to comment on the matter. In a July filing, UnitedHealth stated it is responding to the probes and has “full confidence in its practices.”
The company also faces a separate civil fraud investigation into its Medicare billing and a now-paused lawsuit from the Federal Trade Commission over insulin prices. The news comes after the company’s CEO resigned in May. The company’s shares have lost over 40% this year.
UNH Price Action: According to data from Benzinga Pro, UNH stock closed Tuesday’s session lower by 1.46% to $300.43. The stock has a 52-week high of $630.73 and a 52-week low of $234.60.
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How To Buy UNH Stock
By now, you’re likely curious about how to participate in the market for UnitedHealth Group — be it to purchase shares or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.
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Great Job Henry Khederian & the Team @ Benzinga – Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals Source link for sharing this story.
