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UnitedHealth stocks surged nearly 11% in after-hours trading yesterday after filings revealed that Warren Buffett’s Berkshire Hathaway and Michael Burry’s Scion Asset Management both opened sizable positions in the health insurer during the second quarter. The moves signal renewed institutional confidence in a company still recovering from a year of sharp share-price declines. Those losses were triggered in part by the December 2024 killing of former CEO Brian Thompson, which shocked investors and unsettled leadership.
UnitedHealth is also facing ongoing federal investigations into Medicare billing practices and fallout from a major cyberattack on its Change Healthcare unit. Before the latest buy-ins from BH and Scion, UnitedHealth shares had fallen more than 40% from February highs, hitting a 52-week low earlier this month.
Why the Sudden Bid for UnitedHealth Stocks
The Berkshire position landed at roughly 5.04 million shares as of June 30, a meaningful starter stake that tends to draw copycat capital. UnitedHealth stocks also spiked in premarket trade on the disclosure, underscoring the “Buffett effect” that often follows his moves.
Meanwhile, Michael Burry’s Scion added UnitedHealth in Q2 as well, according to its 13F. That crossover interest from an iconic value shop and an opportunistic hedge fund sharpened the bull case that the worst of the drawdown might be priced in.
Price Action Through the Crisis
Before the December 4, 2024 killing of UnitedHealthcare CEO Brian Thompson in midtown Manhattan, UnitedHealth stocks closed at $596.12 on December 3. The following day ended at $601.60, with the full impact showing later as investigations and headlines mounted.
During the widely discussed “Free Luigi” period tied to the suspected killer’s court saga and broader scrutiny of the company’s practices, UnitedHealth stocks finished February 21, 2025 at $466.42 after an intraday plunge on a DOJ billing probe report. That marked a decline of about 22% from the pre-murder close.
After that period, selling accelerated into summer amid cost and cyberattack fallout. UnitedHealth stocks printed a 52-week intraday low of $234.60 on August 1, 2025, before recovering to a $271.49 close on August 14 prior to the Berkshire and Burry disclosures. From the February 21 close to August 14, shares fell about 42%.
What the New Money Is Likely Betting On
Big buyers may be leaning into stabilization: decelerating Medicare cost trends as pricing resets, cyberattack remediation progressing, and the market’s tendency to overshoot on headline risk. Berkshire’s disclosed stake came alongside trims to Apple and other moves, hinting at a portfolio tilt toward healthcare value at depressed prices. UnitedHealth stocks, while volatile, still anchor a dominant multi-segment platform with scale in benefits and services.
At the same time, regulatory and legal overhangs remain real. The DOJ probe into Medicare billing and litigation linked to the Change Healthcare breach continue to drive day-to-day tape risk. Investors should expect choppy sessions as headlines hit. However, UnitedHealth stocks will likely trade on any updates around investigations, medical cost ratios, and membership mix.
The Bottom Line for UnitedHealth Stocks
For traders, the tape says the capitulation phase produced a new cycle low on August 1, with an off-hours relief rally tied to star-manager buying. For long-term investors, the thesis is simpler: fortress distribution, recurring cash flow, and eventual normalization of extraordinary costs. For skeptics, unresolved probes and sentiment scars argue for patience and wide risk bands. Either way, UnitedHealth stocks just earned a fresh look after months of forced selling and two high-profile votes of confidence.
Do you see the Berkshire and Burry moves as a durable bottoming signal for UnitedHealth stocks, or just a tradable pop? Tell us what you think.
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