UnitedHealth Group Inc. (NYSE:UNH) shares dipped 3.00% during Thursday’s trading session following the fatal shooting of UnitedHealthcare CEO Brian Thompson outside a Manhattan hotel, where the company was set to host its annual investor conference.
What Happened: Thompson was shot by a masked assailant at approximately 6:46 a.m. ET near the New York Hilton Midtown, police reported. The attack, which authorities described as targeted, occurred just hours before the company’s scheduled investor day presentation, where executives were expected to discuss UnitedHealth’s ambitious 2025 outlook.
The healthcare executive, who had led UnitedHealthcare since April 2021, was rushed to a nearby hospital in critical condition where he was later pronounced dead. The suspect reportedly fled eastbound on 6th Avenue after the shooting.
The tragic incident disrupted UnitedHealth’s investor conference, where the company had planned to detail its projected 2025 revenue of $450 billion to $455 billion, significantly exceeding analyst expectations of $431.4 billion. The company had also prepared to announce an expected adjusted earnings per share of $29.50 to $30.00 for 2025.
Thompson’s tenure with UnitedHealth Group spanned nearly two decades, beginning in 2004. He served in various leadership roles, including CFO of multiple divisions, before assuming the CEO position at UnitedHealthcare, the company’s insurance division.
The incident comes as UnitedHealth faces regulatory scrutiny, with the Justice Department recently challenging its $3.3 billion acquisition of Amedisys over competition concerns in the home health services market.
According to data from Benzinga Pro, UnitedHealth has a consensus price target of $604.16 from 26 analysts, with a high of $655 and a low of $460. Recent ratings from Deutsche Bank and Barclays set an average target of $627.67, implying a 2.90% upside.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
