Unitedhealth Says DOJ Investigating Its Medicare Billing Practices

UnitedHealth Group Inc. (UNH) on Thursday disclosed that the U.S. Department of Justice (DOJ) is investigating the company over its medicare billing practices.

In a filing with the U.S. Securities and Exchange Commission (SEC), UnitedHealth said it is complying with criminal and civil requests from the DOJ. In the meantime, it has also hired a third-party firm to review its business policies.

UnitedHealth's shares were down nearly 4% in Thursday's pre-market trading session at the time of writing. Stocktwits data showed the retail sentiment around the stock was in the 'bullish' territory at the time of writing.

UNH stock is down 42% year-to-date and 48% over the past 12 months.

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