UnitedHealth just reported earnings and beat expectations, but the stock is still down about 30% over the past year. The medical loss ratio improved, membership is declining in Medicare Advantage, and there's an ongoing DOJ investigation into their billing practices. Bernstein has a Buy rating with a $512 target, but insiders have been selling.
I'm wondering if this is even the right sector to be in. If the biggest and most diversified player is this shaky, what does that say about the smaller ones? Is there a health insurer that's actually a good investment right now, or is the whole industry just too unpredictable to bother with?