UnitedHealth hits 4-year low after CEO Witty steps down, 2025 forecast suspended
Shares of health insurer UnitedHealth Group UNH.N fall 14.7% to over four-year low of $324.03
CEO Andrew Witty decides to step down for personal reasons
*Former CEO Stephen Hemsley returns to the top role after stepping down in 2017
"We believe the move should be welcome by the Street given the success that Hemsley had in his long run as CEO. It is unclear whether this is a role he wants to remain in long term or just until UNH emerges from these challenges" - brokerage Oppenheimer
Co also suspends 2025 outlook as medical expenditures expected to be higher than anticipated
*Co says on investor call that it was seeing more demand for medical care from new members and from people with complex conditions, increasing costs
UNH expects to return to growth in 2026, co says
Including session's moves, UNH down 35.5% YTD
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