<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/05/image36.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1152" height="720" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/05/image36.png"/></p>
<p>联合健康（UnitedHealth，UNH）的股价在 2025 年下跌了 32%，成为道琼斯指数中表现最差的公司。这次崩盘使其市值从 4 月份的 5410 亿美元峰值降至今天的 2970 亿美元。本文探讨了这家巨型保险公司为何会暴跌以及未来的预期。</p>
<h2>联合健康股价崩盘的主要原因</h2>
<p>联合健康是全球最大的保险公司之一，近年来经历了一段艰难时期，这一切 culminated in 去年 12 月其首席执行官布莱恩·汤普森（Brian Thompson）被致命枪击事件。</p>
<p>卢吉·曼乔内（Luigi Mangione）之所以杀人，很可能是由于对美国最大保险公司拒绝索赔的持续不满。</p>
<p>在公司发布财务结果并撤回前瞻性指引后，危机升级，理由是医疗保险优势（Medicare Advantage）成本上升，导致医疗护理比率达到令人担忧的水平。</p>
<p>随着危机的加剧，公司首席执行官安德鲁·威蒂（Andrew Witty）在今年 5 月辞职，发出了公司基本面不佳的信号。首席执行官辞职通常被视为股票的高度看跌催化剂。</p>
<p>随着美国司法部（DoJ）对公司的交易，特别是医疗保险欺诈展开调查，UNH 股价也大幅下跌。</p>
<h2>UNH 股价在 2026 年会反弹吗？</h2>
<p>随着 UNH 股价今年下跌了两位数，投资者关注的问题是它在新的一年是否会反弹。</p>
<p>股价反弹的潜在看涨催化剂存在，这解释了它从今年最低点反弹了 40%。</p>
<p>其中一个催化剂是沃伦·巴菲特（Warren Buffett），我们这个时代最优秀的投资者之一，趁机买入。他的公司现在持有 506 万股，价值超过 39 亿美元，成为最大的持有者之一。</p>
<p>其他对冲基金投资者如阿帕卢萨管理公司（Appaloosa Management）、孤松资本（Lone Pine Capital）和 AQR 也趁机买入，表明他们预计股价会随着时间反弹。</p>
<p>UNH 股价的另一个潜在催化剂是其第三季度的收入增长恢复。其收入增长了 12%，达到 1130 亿美元，超过了分析师的预期。医疗护理比率（MCR）为 89.9%，符合预期，管理层预计这一比率会随着时间的推移而下降。</p>
<p>华尔街分析师还预计公司的收入将达到 1133.8 亿美元，同比增长 12.47%，这将使其年收入达到 4470 亿美元。明年将达到 4560 亿美元。</p>
<p>此外，分析师们也对 UNH 股价反弹持乐观态度。平均预期目标为 392 美元，较当前的 392 美元大幅上升。最近的一次升级来自 Cowen，将目标从 335 美元提高到 338 美元。</p>
<h2>联合健康股价技术分析</h2>
<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/UNH-stock-1024x579.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1024" height="579" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/UNH-stock-1024x579.png"/></p>
<p>UNH 股价图表 | 来源：TradingView</p>
<p>周线图显示，UNH 股价从 7 月份的 232 美元低点反弹至当前的 328 美元。</p>
<p>它已突破超级趋势指标，这是一个非常看涨的信号。此外，它正在形成一个看涨的旗形模式，由一条垂直线和一个对称三角形组成。</p>
<p>因此，股票有可能反弹，可能达到 378 美元的关键阻力位，这是 10 月份的最高水平。这个价格目标与 38.2% 的斐波那契回撤水平相吻合。</p>
<p>UNH 股票：道琼斯指数中表现最差的公司接下来会怎样？的文章首次出现在 Invezz 上。</p>

联合健康

<p>联合健康 (UnitedHealth, UNH) 的股票在 2025 年下跌了 32%，成为道琼斯指数中表现最差的股票，市值从 5410 亿美元降至 2970 亿美元。导致这一情况的因素包括首席执行官辞职、医疗保险欺诈调查以及成本上升。然而，该股票从低点反弹了 40%，得益于沃伦·巴菲特和其他对冲基金的投资。收入增长恢复，预计年收入为 4470 亿美元。分析师预计目标价格为 392 美元，技术指标显示可能进一步上涨的潜力</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/05/image36.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/05/image36.png"/></p>
<p>The UnitedHealth (UNH) stock price dropped by 32% in 2025, making it the worst-performing company in the Dow Jones Index. This crash pushed its market capitalization from a peak of $541 billion in April to $297 billion today. This article explores why the giant insurance company plunged and what to expect.</p>
<div class="lb-trans"><p>联合健康（UnitedHealth，UNH）的股价在 2025 年下跌了 32%，成为道琼斯指数中表现最差的公司。这次崩盘使其市值从 4 月份的 5410 亿美元峰值降至今天的 2970 亿美元。本文探讨了这家巨型保险公司为何会暴跌以及未来的预期。</p>
</div><h2>Top reasons why the UnitedHealth stock price crashed</h2>
<div class="lb-trans"><h2>联合健康股价崩盘的主要原因</h2>
</div><p>UnitedHealth, one of the biggest insurance companies in the world has had a rough patch in the past few years, a move that culminated in the fatal shooting of Brian Thompson, its CEO, in December last year.</p>
<div class="lb-trans"><p>联合健康是全球最大的保险公司之一，近年来经历了一段艰难时期，这一切 culminated in 去年 12 月其首席执行官布莱恩·汤普森（Brian Thompson）被致命枪击事件。</p>
</div><p>The killing by Luigi Mangione was likely because of the ongoing frustration about claims denials by the biggest insurance companies in the United States.</p>
<div class="lb-trans"><p>卢吉·曼乔内（Luigi Mangione）之所以杀人，很可能是由于对美国最大保险公司拒绝索赔的持续不满。</p>
</div><p>The crisis escalated after the company published its financial results and withdrew its forward guidance, citing the elevated Medicare Advantage costs, which drove the medical care ratio to alarming levels.</p>
<div class="lb-trans"><p>在公司发布财务结果并撤回前瞻性指引后，危机升级，理由是医疗保险优势（Medicare Advantage）成本上升，导致医疗护理比率达到令人担忧的水平。</p>
</div><p>As the crisis escalated, the company’s CEO, Andrew Witty, stepped down in May this year, sending a signal that the company’s fundamentals were not doing well. A CEO resignation is often seen as a highly bearish catalyst for a stock.</p>
<div class="lb-trans"><p>随着危机的加剧，公司首席执行官安德鲁·威蒂（Andrew Witty）在今年 5 月辞职，发出了公司基本面不佳的信号。首席执行官辞职通常被视为股票的高度看跌催化剂。</p>
</div><p>The UNH stock price also plunged as the Department of Justice (DoJ) launched an investigation into the company’s dealings, especially on Medicare fraud.</p>
<div class="lb-trans"><p>随着美国司法部（DoJ）对公司的交易，特别是医疗保险欺诈展开调查，UNH 股价也大幅下跌。</p>
</div><h2>Will the UNH stock rebound in 2026?</h2>
<div class="lb-trans"><h2>UNH 股价在 2026 年会反弹吗？</h2>
</div><p>With the UNH stock price down by double digits this year, the question among investors is whether it will rebound in the new year.</p>
<div class="lb-trans"><p>随着 UNH 股价今年下跌了两位数，投资者关注的问题是它在新的一年是否会反弹。</p>
</div><p>There are some potential bullish catalysts for the stock, which explains why it has rebounded by 40% from its lowest level this year.</p>
<div class="lb-trans"><p>股价反弹的潜在看涨催化剂存在，这解释了它从今年最低点反弹了 40%。</p>
</div><p>One of the catalysts is that Warren Buffett, one of the best investors of our time, bought the dip. His company now holds 5.06 million shares worth over $3.9 billion, making it one of the biggest holders.</p>
<div class="lb-trans"><p>其中一个催化剂是沃伦·巴菲特（Warren Buffett），我们这个时代最优秀的投资者之一，趁机买入。他的公司现在持有 506 万股，价值超过 39 亿美元，成为最大的持有者之一。</p>
</div><p>Other hedge fund investors like Appaloosa Management, Lone Pine Capital, and AQR have bought the dip, a sign that they expect it to rebound over time.</p>
<div class="lb-trans"><p>其他对冲基金投资者如阿帕卢萨管理公司（Appaloosa Management）、孤松资本（Lone Pine Capital）和 AQR 也趁机买入，表明他们预计股价会随着时间反弹。</p>
</div><p>The other potential catalyst for the UNH stock is that its revenue growth resumed in the third quarter. Its revenue rose by 12% to $113 billion, higher than what analysts were expecting. The medical care ratio (MCR) of 89.9% was in line with expectations, and the management sees it falling over time.</p>
<div class="lb-trans"><p>UNH 股价的另一个潜在催化剂是其第三季度的收入增长恢复。其收入增长了 12%，达到 1130 亿美元，超过了分析师的预期。医疗护理比率（MCR）为 89.9%，符合预期，管理层预计这一比率会随着时间的推移而下降。</p>
</div><p>Wall Street analysts also expect the company’s revenue will get to $113.38 billion, up by 12.47% YoY, which will bring its annual revenue to $447 billion. It will then make $456 billion next year.</p>
<div class="lb-trans"><p>华尔街分析师还预计公司的收入将达到 1133.8 亿美元，同比增长 12.47%，这将使其年收入达到 4470 亿美元。明年将达到 4560 亿美元。</p>
</div><p>Additionally, analysts are also hopeful that the UNH stock price will rebound. The average estimate is that the target will be $392, up sharply from the current $392. The most recent upgrade was from Cowen, which raised its target from $335 to $338.</p>
<div class="lb-trans"><p>此外，分析师们也对 UNH 股价反弹持乐观态度。平均预期目标为 392 美元，较当前的 392 美元大幅上升。最近的一次升级来自 Cowen，将目标从 335 美元提高到 338 美元。</p>
</div><h2>UnitedHealth share price technical analysis</h2>
<div class="lb-trans"><h2>联合健康股价技术分析</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/UNH-stock-1024x579.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/12/UNH-stock-1024x579.png"/></p>
<p>UNH stock chart | Source: TradingView</p>
<div class="lb-trans"><p>UNH 股价图表 | 来源：TradingView</p>
</div><p>The weekly timeframe chart shows that the UNH share price has rebounded from a low of $232 in July to the current $328.</p>
<div class="lb-trans"><p>周线图显示，UNH 股价从 7 月份的 232 美元低点反弹至当前的 328 美元。</p>
</div><p>It has moved above the Supertrend indicator, which is a highly bullish sign. Also, it is in the process of forming a bullish pennant pattern, which is made up of a vertical line and a symmetrical triangle.</p>
<div class="lb-trans"><p>它已突破超级趋势指标，这是一个非常看涨的信号。此外，它正在形成一个看涨的旗形模式，由一条垂直线和一个对称三角形组成。</p>
</div><p>Therefore, there is a likelihood that the stock will bounce back, potentially to the key resistance level at $378, its highest level in October. This price target coincides with the 38.2% Fibonacci Retracement level.</p>
<div class="lb-trans"><p>因此，股票有可能反弹，可能达到 378 美元的关键阻力位，这是 10 月份的最高水平。这个价格目标与 38.2% 的斐波那契回撤水平相吻合。</p>
</div><p>The post UNH stock: what next for the top laggard in the Dow Jones Index? appeared first on Invezz</p>
<div class="lb-trans"><p>UNH 股票：道琼斯指数中表现最差的公司接下来会怎样？的文章首次出现在 Invezz 上。</p>
</div>

联合健康股票：作为道琼斯指数中表现最差的股票，接下来会如何发展？