Healthcare stocks take $28B hit: 4 things to know

Ayla Ellison (Twitter) - Print  | 

On April 16, UnitedHealth Group reported a $3.5 billion profit for the first quarter of fiscal 2019. That same day, the company's stock price tumbled 4 percent, according to Bloomberg.

Four things to know:

1. UnitedHealth joined the "Medicare for All" debate on April 16, when CEO David Wichmann warned investors that "Medicare for All" proposals would "destabilize the nation's health system," according to CNBC.

2. Despite UnitedHealth's first-quarter earnings beating analysts' estimates, the uncertainty surrounding "Medicare for All" proposals pushed the company's stock price lower.

3. Several other major insurers and for-profit hospital operators saw their stock prices drop on April 16 as well. According to data compiled by Bloomberg, insurers and hospital operators lost $28 billion in market value.

4. Nashville, Tenn.-based HCA Healthcare's stock price tumbled 10 percent April 16, while Franklin, Tenn.-based Community Health Systems' stock price fell nearly 6 percent.

Access the full Bloomberg article here

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