UnitedHealth Group has attracted major contrarian investors like Buffett, Burry, and Simons. Click here to read why UNH stock is a Buy.

Shares of UnitedHealth Group opened at their lowest point since early 2020 as the health insurance giant's second-quarter profit came in worse than analysts had forecast.

UnitedHealth Group (UNH) stock is still down 40% YTD but has surged more than +20% this month following reports that Warren Buffett, and other billionaire hedge fund managers have taken a stake in the company.

Year to date, the stock has fallen by nearly 45%, which is by no means normal for the healthcare stock. In fact, this is the worst it has performed since the Great Recession, when it tumbled by more than 54% in 2008.

For 2024, UnitedHealth Group expects between $27.50 and $27.75 in adjusted diluted EPS. This is still within the initial range of between $27.50 and $28.00 established last year.

The company may be under criminal investigation for alleged irregularities in its Medicare business—but it’s been touched by the Warren Buffett effect. Shares in the troubled private health insurer UnitedHealth Group (NYSE: UNH) are currently seeing their best trading day in months.

UnitedHealth Group (NYSE: UNH) is a top health care stock with recent turbulence in earnings guidance, rising costs, and hedge fund activity.