UnitedHealth (UNH), the largest U.S. health insurer, came under renewed pressure Tuesday after Bloomberg reported that the Department of Justice (DOJ) has expanded its criminal investigation beyond Medicare Advantage billing to include other business practices. Following the news, UNH stock was down 1.4% to close at $300.43.
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The DOJ’s criminal division is now examining how UnitedHealth’s pharmacy benefit arm, Optum Rx, manages prescriptions and reimburses doctors. This broadens the earlier probe into Medicare Advantage billing practices, according to people familiar with the matter.
While the DOJ has not accused UnitedHealth or its executives of wrongdoing, the broader investigation adds another layer of risk.
More Legal Challenges on the Horizon
In addition to the DOJ inquiry, UnitedHealth is facing a civil fraud investigation over its Medicare operations. At the same time, the FTC is pressing forward with a lawsuit accusing UnitedHealth’s Optum Rx, along with other large PBMs (pharmacy benefit managers), of inflating insulin prices.
However, the company has rejected the allegations, calling them “baseless.”
UNH Stock Is Under Pressure in 2025
The ongoing investigations come at a turbulent time for the health care giant. Rising medical costs, regulatory headwinds, and leadership changes have weighed on sentiment, with UNH stock already down over 40% year-to-date.
The latest DOJ action adds fresh uncertainty for investors in the nation’s largest Medicare Advantage provider.
What Is the Future of UNH Stock?
Turning to Wall Street, UNH stock has a Strong Buy consensus rating based on 18 Buys, two Holds, and one Sell assigned in the last three months. At $316.10, the average UnitedHealth stock price target implies a 5.22% upside potential.
