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Originally Posted by Boomer
“Staying solvent,” you say. Of course, but, actually, staying highly profitable is what drives the game plan in any publicly traded stock.
Yesterday, June 8, United Healthcare stock (UNH) closed at $250.68, near its 52-week high of $251.50. The stock’s 52-week low was $176.42. (What does the percentage math on that say.)
Also, United Healthcare has raised its stockholder dividend with a 20% increase and has announced a new 100 million shares buyback program. Gee. Where did allllll that cash come from.
Before I am accused of being some kind of commie pinko who does not like the stock market, let me say that I like it fine. I am in it — though not with healthcare stocks.
Publicly traded healthcare stocks have the interests of the stockholders and CEOs way ahead of patients and their doctors.
I can own toothpaste. I can own tech. I can own utilities.
But I do not want to own a piece of another person’s life, potentially their actual life.
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Buying back stock, to increase stock price and therefore bonuses...is what a lot (most?) of publicly traded companies are doing with their 'new found money.'
Yeah, sure, a few have given $1,000 one-time bonuses to employees to try and avoid criticism, but smart folks know the real goal of paying less taxes...is for upper management to increase their own compensation.
And denying as many medical claims as possible, is also how health insurance companies increase their profits...and stock price.
