Health insurers slip after UnitedHealth suspends 2025 forecast
Shares of health insurers fall between 3% and 8% as UnitedHealth Group UNH.N declines 16% to a four-year low after it suspends its 2025 forecast, citing higher-than-expected medical costs
CVS Health CVS.N down 5.2%, Humana HUM.N slips 7.5% and Elevance Health ELV.N drops 7.8%
*Centene CNC.N down 4.7%, Molina Healthcare MOH.N falls 3.7% and Cigna CI.N drops 3.4%
UNH also says its CEO Andrew Witty has decided to step down for personal reasons, effective immediately
Last month, UNH cut its 2025 adjusted profit forecast to a range of $26 per share to $26.50 per share from between $29.50 per share and $30 per share projected earlier
Including session's moves, UNH down 37.2%, CVS up 36.8%, HUM down 8%, ELV up 4.4%, CNC down 1.5%, MOH up 8% and CI up 10.4% YTD
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