Health insurance stocks slide after UnitedHealth warns more surgeries will drive up medical costs
Publishing timestamp: 2023-06-14 19:44:45
Summary
Health insurer stocks dropped after UnitedHealth Group warned of higher medical costs as older Americans start to catch up on surgeries they delayed during Covid-19 pandemic. Insurance companies have benefited from delay in nonurgent procedures in recent years, but that trend may be reversing. UnitedHealth's remarks led to a drop in health insurer stocks and a rise in shares of medical device manufacturers and hospital operators.
Sentiment: NEGATIVE
Tickers: CVS, ELV, SYK, MDT, UNH, HCA, HUM, THC,
Keywords: business, pharmaceuticals, humana inc, elevance health inc, stryker corp, cvs health corp, health care industry, hca healthcare inc, social issues, medtronic plc, business news, tenet healthcare corp, stock markets, biotech and pharmaceuticals, biotechnology, unitedhealth group inc,