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Economic Times
38 minutes ago
- Economic Times
UnitedHealth jumps 9% after vote of confidence from Warren Buffett
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of UnitedHealth Group surged more than 9% on Friday after a fresh investment from billionaire Warren Buffett's Berkshire Hathaway boosted investor confidence in the troubled health company is dealing with multiple challenges that have emerged in the last two years, including rising costs, a federal investigation into its government-backed health plans, a cyberattack at its technology unit that affected the personal information of over 192 million Americans, and the murder of its insurance unit chief in hailed as a reliable earnings performer, UnitedHealth missed Wall Street's profit expectations for the last two quarters, and its shares have dropped nearly 46% in 2025, making it the worst-performing stock on the blue-chip Dow Jones Industrial Average this shares were last up 9.3% at $296.64 in early has swooped in with big investments in companies, in which he sees a long-term strategic value, during their periods of invested heavily in Occidental Petroleum in 2019 as it tried to finance a merger with Anadarko Petroleum and has kept adding to his stake despite the company's weak stock performance. He famously took a stake in investment bank Goldman Sachs at the height of the global financial crisis in 2008."Buffett's purchase is a psychological reassurance to many investors that saw UnitedHealth as 'untouchable,' given the massive turbulence in the stock over the past few months," said Kevin Gade, chief operating officer at UnitedHealth investor Bahl & owned 5.04 million UnitedHealth shares worth about $1.57 billion as of June 30, it said in a U.S. Securities and Exchange Commission filing on Thursday. Buffett owned about 1.18 million shares in UnitedHealth between 2006 and 2009, before selling his entire stake in other prominent hedge funds, including David Tepper's Appaloosa Management, Lone Pine Capital and Two Sigma Investments, also bought UnitedHealth's shares, regulatory filings showed on the "vote of confidence" from Buffett's investment validates the long-term value of UnitedHealth shares, the "management needs to regain trust and credibility with investors, and get back to its beat and raise reputation of the past," said James Harlow, senior vice president at Novare Capital May, CEO Andrew Witty abruptly stepped down amid rising operational and financial pressures, and Stephen Hemsley, who had run the company from 2006 to 2017, took month, the company projected full-year adjusted earnings per share of at least $16, well short of analysts' already lowered estimate of $ shares are currently trading at about 15.8 times forward earnings estimates, below their five-year average of 19."While UnitedHealth still faces elevated uncertainty, it is good to see that this renowned investment firm also believes the market is discounting assumptions that are too pessimistic for the long term, which is similar to our view," said Morningstar analyst Julie of rivals Centene, Humana and Molina Healthcare gained between 2% and 4%.Berkshire on Thursday also disclosed new stakes in steel maker Nucor, security products provider Allegion and outdoor advertiser Lamar Advertising.
Economic Times
an hour ago
- Economic Times
Dow hits record high at open on rate-cut optimism, UnitedHealth boost
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
India.com
4 hours ago
- India.com
This company shares in focus as company forms JV with Taiwan-based firm
ओमांश इंटरप्राइजेज लिमिटेड का शेयर बना रहा मालामाल Shares of Pavna Industries Limited will be in focus when markets open on Monday as the company has informed exchanges that it has formed a joined venture with with Taiwan-based SmartChip Microelectronic Corporation. The company said that the new joint venture company will make electronic components for the automobile industry and others. 'The proposed Joint Venture (JV) Company to carry on the business of inter alia making electronic components for the automobile industry (ICE & EV) and for other industries like hardware for cupboard/door locks etc. in residential/commercial industries, aero, medical etc.,' the company said in the filing. As per the information share, the proposed shareholding structure for the joint venture underscores Pavna Industries Limited's significant control, with the company holding a majority stake of 80 per cent. The Taiwan-based company will own the remaining 20 per cent. The authorised and paid-up capital of the company shall be Rs 5,00,000 divided into 50,000 equity shares of Rs 10 each. 'The Equity Shares of proposed Joint Venture Company will be subscribed at a price of Rs. 10/- each by Pavna Industries Limited and Smartchip Mircoelectronic Corporation,' it further stated. The counter ended in the red in the last trading session, falling 2.03 per cent to Rs 410.35 compared to the previous close of Rs 418.85. This is part of a larger trend in the stock's performance. The 52-week high of the stock is Rs 759.55, hit on October 14, 2024, and the 52-week low is Rs 295.20. These figures provide a broader perspective on the stock's performance, indicating its potential for growth and the level of risk associated with it. According to the BSE Analytics, the stock has delivered a return of 86 per cent in two years. However, it has corrected 21 per cent in one year and 69 per cent so far this year. Earlier, benchmark stock indices Sensex and Nifty ended flat in a highly volatile trade on Thursday. Extending gains to the second day, the 30-share BSE Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. The 50-share NSE Nifty rose by 11.95 points or 0.05 per cent to 24,631.30.
