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The Economic Times
The Economic Times

UnitedHealth falls after Berkshire sells stake in health insurer

UnitedHealth Berkshire Berkshire Hathaway Stephen Hemsley Dow Jones Industrial Average

UnitedHealth shares fell 3% on Monday after Berkshire Hathaway ​disclosed it had sold its stake ​in the healthcare conglomerate as a part of a portfolio ​reshuffling in the first quarter under CEO Greg Abel.

In August last year, Berkshire Hathaway disclosed it bought 5 million shares of UnitedHealth, which had then lifted the stock as ‌investors bet ⁠on a ⁠turnaround under CEO Stephen Hemsley. On Friday, Berkshire said it has exited its position ​in the health insurance behemoth.

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