UnitedHealth Shares Fall on Outlook
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UnitedHealth Group Inc., the biggest U.S. health insurer, said slow job growth might make it hard to keep adding customers, sending the company’s stock down 4.4%.
Net income rose to $554 million, or 88 cents a share, in the first quarter, from $403 million, or 65 cents, a year earlier, as operating expenses fell and medical cost increases slowed, the Minnetonka, Minn.-based company said.
UnitedHealth, which had 20 million members at the end of March compared with about 18 million a year earlier, is trying to add business among large employers as it competes with Anthem Inc., Aetna Inc. and Cigna Corp.
Shares of UnitedHealth fell $2.95 to $63.95 on the NYSE.
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