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UnitedHealth Group (UNH) Stock Moves -0.7%: What You Should Know

UnitedHealth Group (UNH) stock has moved -0.7% in the past 24 hours, with the shares closing at $435.39 on Tuesday.

The decline in UnitedHealth Group's stock price comes as the company's earnings and revenue missed estimates in the first quarter. The health insurance giant reported a net income of $3.62 billion, or $4.43 per share, compared to $3.55 billion, or $4.32 per share, in the same quarter last year. The company's revenue also fell short of expectations, coming in at $60.14 billion compared to $58.39 billion in the same quarter last year.

Despite the disappointing earnings, UnitedHealth Group's CEO, Stephen Hemsley, expressed optimism about the company's future prospects. "We are confident in our ability to drive growth and improve our performance in the years ahead," Hemsley said.

UnitedHealth Group's stock has been under pressure in recent weeks due to concerns about the impact of the COVID-19 pandemic on the company's business. The pandemic has led to a surge in unemployment, which has put pressure on the company's health insurance business.

Despite the challenges posed by the pandemic, UnitedHealth Group's management remains confident in the company's ability to adapt and thrive in the current environment. "We are well-positioned to navigate the current environment and to continue to grow and improve our performance in the years ahead," Hemsley said.