UnitedHealth Stock Rises Along With Other Insurers After Trump’s Dr. Oz Nomination

  • UnitedHealth Shares Rise Following Dr. Oz’s Appointment to the Trump Administration.
  • Trump pushed for the nomination of Mehmet Oz to be head of the Centers for Medicare and Medicaid Services.
  • Oz is considered likely to push for more Medicare Advantage plans, which benefit private sector insurers like UNH.
  • UNH stock is testing the $600 resistance on Wednesday.

UnitedHealth Group (UNH) Stock rose more than 3% on Wednesday as investors increased bids on most U.S. health insurers after President-elect Donald Trump appointed Dr. Oz to run the company’s health insurance unit. government for the elderly and indigent.

The market is preparing for the results of Nvidia (NVDA) that will arrive after Wednesday’s close, so the Dow Jones Industrial Average (DJIA), which includes both UnitedHealth and Nvidia, has fallen slightly. Only the S&P 500 posted gains among the major stock indexes on Wednesday, with the NASDAQ performing the worst, down 0.7%.

UnitedHealth Stock News

Dr. Mehmet Oz, better known as Dr. Oz on television, has been a familiar face in medicine for years. Through his appearances on the Oprah Winfrey show and elsewhere, Dr. Oz became a common personality for those seeking medical advice before running and losing as the 2022 Pennsylvania Republican Senate candidate.

Trained as a cardiothoracic surgeon, Oz has been appointed by the incoming Trump administration to lead the Centers for Medicare and Medicaid Services (CMMS). This part of the government manages billions of dollars that provide health care to retirees (Medicare) and those without resources (Medicaid).

The basic idea here is that Dr. Oz has made positive statements regarding Medicare Advantage plans. These plans give private insurers the ability to manage for-profit government Medicare plans.

In addition to UnitedHealth, other insurers such as the Aetna unit of CVS Health (CVS), Elevance Health (ELV) and Human (HUM) They also saw their stock prices rise on Wednesday.

JPMorgan noted the positive statements Dr. Oz made during his 2022 Senate campaign.

“We can expand Medicare Advantage plans,” Oz said on the campaign trail two years ago. “These plans are popular among seniors, consistently provide quality care and have a necessary incentive to keep costs down.”

UnitedHealth Stock Chart

UNH stock is having trouble attacking the $600 level. Above there, resistance at $608 looms.

UNH Stock Daily Chart

Source: Fx Street

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