Why UnitedHealth Stock Rocketed Nearly 5% Higher Today
Now this is the way to start a week on the stock market. The share price of top health insurer UnitedHealth Group (NYSE: UNH) climbed 4.6% higher on some encouraging news from the federal government plus a very positive analyst note. As a result, the stock convincingly beat the 0.4% bump of the S&P 500 index on the day.
Much of UnitedHealth's Monday momentum came from the Biden administration's completion of a new set of rules for Medicare this past Friday.
While the administration still aims to reduce overbilling through the program's Medicare Advantage private healthcare system, the new rules did not go as far as many in the health insurance sector had feared.
Source Fool.com
