UnitedHealth Group Incorporated (UNH) CEO Is In A "Bunker," Laments Jim Cramer

UnitedHealth Group Incorporated (NYSE:UNH) is one of the Jim Cramer Says People Are Getting “Happier” & Discusses These 11 Stocks.

UnitedHealth Group Incorporated (NYSE:UNH) is one of the biggest healthcare benefits managers in America. It is also one of the most troubled stocks in its sector. UnitedHealth Group Incorporated (NYSE:UNH)’s shares have lost 37.9% year-to-date on the back of a massive 27% drop in April. The shares sank after a disastrous earnings report for the first quarter saw it miss analyst estimates and lower full-year outlook. Cramer has discussed UnitedHealth Group Incorporated (NYSE:UNH) several times in his show. He believes that recent reports of the firm being investigated might be untrue since its management has continued to buy shares. Here are his latest thoughts about UnitedHealth Group Incorporated (NYSE:UNH):

“Hey by the way, there was a downgrade of UNH, UnitedHealth. It’s time for that CEO to start appearing somewhere. He’s in a bunker right now. The bunker’s a bad place.”

Cramer has discussed UnitedHealth Group Incorporated (NYSE:UNH)’s insider buying in quite a bit of detail. Here are his recent remarks:

“People sell things for many reasons, right. They get divorced, I don’t know about that. They get maybe something happens in their family, they need money. But David, why do they buy? Sometimes they buy because there’s a bargain. Now typically these insiders, maybe they buy like 1500 shares. Well how about if you bought, you’re Stephen Hemsley, returning CEO, who acquired 86,000 shares at 288. That’s pretty, you know 25 mil.

“And then, Kristen Gil, director, what, 3700 shares. Timothy Patrick, director, 1553. The CFO, come right in, the CFO’s in there buying the heck out of it too. 5 million. So I just say to myself, if they really knew, like the Journal says that they’re being investigated criminally, that’s a very big buy that would obviously go away.

“Absolutely, but remember it is a fine company. I don’t think the franchise, unless it’s indicted, is going to go away. So let’s just say [inaudible] I was convinced that maybe we’re too negative. At the 300 level.”

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Disclosure: None. This article is originally published at Insider Monkey.