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July 14 (Reuters) - UnitedHealth Group's (UNH.N) quarterly profit beat Wall Street estimates on Friday as a smaller-than-expected jump in medical costs allayed fears that a resumption in long-delayed surgical procedures would hit profit growth, sending its shares up 5%. The beat from the industry bellwether lifted the shares of rivals Humana (HUM.N), Cigna (CI.N), CVS Health (CVS.N) and Elevance Health (ELV.N) between 2% and 5%. Chief financial officer John Rex said the company expects medical costs for the third quarter to be "a little bit lower" compared to the second quarter. UnitedHealth's profit of $6.14 per share for the second quarter beat analysts' expectations of $5.99, according to Refinitiv. Reporting by Bhanvi Satija and Raghav Mahobe in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: John Rex, Stephens, Scott Fidel, UnitedHealth, Humana, Bhanvi Satija, Pooja Desai Organizations: Wall, Humana, CVS Health, Elevance, Health, Medicare, Thomson Locations: Bengaluru

☆ UnitedHealth stock jumps after earnings top estimates despite rising medical costs
▼ + stars: | 2023-07-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

UnitedHealth Group' s stock price jumped Friday after the health-care conglomerate reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations despite rising medical costs. UnitedHealth Group is the biggest health-care company in the U.S. by market cap and revenue, and is even bigger than the nation's largest banks. Given its size, UnitedHealth Group is considered a bellwether for the broader health insurance sector. UnitedHealth Care said that was driven by the previously noted uptick in elective surgeries and outpatient care activity, primarily among seniors. But UnitedHealth Group executives indicated that the trend may be reversing.

Persons: UnitedHealth, –, John Rex, Rex, Goldman Sachs Organizations: UnitedHealth, Refinitiv, Healthcare, Analysts, Goldman, Rex . Insurance Locations: Minnesota, U.S

☆ UnitedHealth sees higher knee and hip replacement demand
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnitedHealth sees higher knee and hip replacement demandCNBC's Bertha Coombs reports health insurer stocks dragged on the S&P 500, after UnitedHealth Group CFO John Rex told investors the company is seeing pent-up demand for non-emergency proceures from its Medicare members, driving medical costs up mmore than expected.

Persons: Bertha Coombs, John Rex Organizations: UnitedHealth

☆ Health insurance stocks slide after UnitedHealth warns more surgeries will drive up medical costs
▼ + stars: | 2023-06-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Health insurer stocks dropped on Wednesday after UnitedHealth Group warned of higher medical costs as older Americans start to catch up on surgeries they delayed during the Covid pandemic. Shares of UnitedHealth, the largest U.S. healthcare provider by market value, closed around 6% lower. Elevance Health closed roughly 7% lower, and CVS Health , which owns the insurer Aetna, slid nearly 8%. The company has recorded "strong outpatient care activity" throughout April, May and the early part of June, CFO John Rex said at a Goldman Sachs healthcare conference. Shares of medical device manufacturers Medtronic and Stryker jumped 2.5% and 4%, respectively, after UnitedHealth's remarks.

Persons: UnitedHealth, John Rex, Goldman Sachs, Medicare enrollees, Rex, Timothy Noel, Stryker, UnitedHealth's Organizations: UnitedHealth, Medicare, Humana, Elevance Health, CVS Health, Aetna, Insurance, Goldman, Healthcare, Tenet Healthcare

☆ Stocks making the biggest moves premarket: Toyota, AMD, Shell, UnitedHealth and more
▼ + stars: | 2023-06-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Toyota cars are displayed on the sales lot at Toyota Marin in San Rafael, California, May 11, 2022. Check out the companies making the biggest moves in premarket trading. Vodafone — The cellphone network added nearly 3% in premarket trading after Vodafone and CK Hutchison agreed to merge their U.K. businesses. Shell — The European oil stock was up 2.3% after Shell boosted its dividend and share buybacks and said it would keep oil production steady until 2030. SoFi Technologies — Shares added 3.25% premarket.

Persons: Akio Toyoda, Bracken Darrell, CK Hutchison, UnitedHealth, John Rex, BTIG, — CNBC's Hakyung Kim, Jesse Pound Organizations: Toyota, Toyota Marin, Logitech, Citi, Vodafone, CK, Devices, Amazon, Services, Reuters, Humana, Lumen Technologies, Google, Microsoft, Shell, SoFi Locations: San Rafael , California, Japan

☆ One of America's biggest health insurers just issued a warning that healthcare costs are about to soar
▼ + stars: | 2023-06-14 | by ( Lydia Ramsey Pflanzer | ) www.businessinsider.com time to read: +2 min

An insurance exec warned of higher medical costs as Americans start to get more elective procedures. It suggests people are getting care they put off during the height of the pandemic. Older Americans are starting to get more procedures like hip and knee surgeries, and it's driving up how much one of the biggest US health insurers is spending on medical care. The "strong" level of care older Americans are seeking out suggests that people are getting more comfortable getting procedures they put off during the pandemic, the UnitedHealth Group executive said. The stocks of health insurance companies tumbled on Wednesday following the warning.

Persons: John Rex, Goldman, Jodi Jacobson, Stryker, Medtronic Organizations: UnitedHealth, UnitedHealth Group, CVS Health, Tenet Locations: Goldman Sachs, Aetna

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