UnitedHealth's stock drops to pace Dow decliners, as it heads toward 6-month closing low
Shares of UnitedHealth Group Inc. sank 3.2% toward a 6-month low in morning trading Thursday, enough to pace the Dow Jones Industrial Average's losers, amid broad weakness in the health care sector. Raymond James analyst Chris Meekins said in a note to clients Thursday that although impeachment proceedings against President Trump will likely delay debate over Speaker Nancy Pelosi's drug pricing bill will likely be delayed until early next year, Senate Finance Chairman Chuck Grassley remained "optimistic" that the bill would gain Republican support. UnitedHealth's stock is on track to close at the lowest level since March 29. Among its peers, shares of Humana Inc. fell 2.9%, Anthem Inc. gave up 2.8% and Molina Healthcare Inc. shed 3.7%. The SPDR Health Care Select Sector ETF dropped 1.3%, with 54 of its 62 equity components trading lower. Meanwhile, the Dow Jones Industrial Average shed 134 points, or 0.5%, with 19 of 30 components losing ground.
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