Shares of UnitedHealthcare Group have risen in the hours after the fatal shooting of a top executive – which happened hours before the company’s earnings release.
Brian Thompson, CEO of the insurance arm UnitedHealth, was shot outside a Hilton hotel in Midtown Manhattan around 6:45 a.m. Wednesday morning.
The 50-year-old was taken to a local hospital in critical condition but died shortly afterwards.
UnitedHealthcare, America’s largest health insurer, was supposed to hold its Investor Day in the city, but it has since been canceled.
The stock price rose as much as 2.5 percent this morning — and 1.4 percent at 12:30 a.m. ET.
The company had already released its 2025 guidance ahead of the close of today’s shareholder meeting due to Thompson’s death.
Sales are expected to be more than $450 billion, which is higher than the expected $431 billion.
It’s thought the better-than-expected earnings forecast for next year turned the stock green.
“We are deeply saddened and shocked by the passing of our dear friend and colleague Brian Thompson, CEO of UnitedHealthcare,” the company said in a statement.
UnitedHealthcare CEO Brian Thompson lives in Minnesota but was in town to present the company’s 2025 financial outlook
Shares of UnitedHealthcare rose Wednesday morning in the hours after the shooting
“Brian was a highly respected colleague and friend to all who worked with him. We are working closely with the New York Police Department and ask for your patience and understanding during this difficult time.
“Our thoughts go out to Brian’s family and everyone who was close to him.”
Thompson was named CEO of UnitedHealthcare in 2021 and reportedly earned $10 million per year. Previously, he led UnitedHealth’s Medicare operations for several years.
He was scheduled to speak at an investor meeting at the Hilton Hotel shortly after the shooting.
Headshots and biographies of UnitedHealthcare and UnitedHealth Group executives were not accessible on the companies’ websites after the shooting Wednesday morning.
The reason for removing the pages was not immediately clear.
It’s possible that the company has temporarily restricted access due to security or privacy concerns, especially in the wake of a high-profile incident.
The insurance division that Thompson manages is expected to generate more than $337 billion in revenue next year. It is the largest health insurer in the US. The other main division is Optum.
During Wednesday morning’s investor day, executives continued their presentations until about 9:10 a.m., after which the company addressed the audience about the incident.
The suspect is on the run and is described as a white male wearing a cream-colored jacket, a black face mask, black and white sneakers and a gray backpack.
Headshots and biographies of UnitedHealthcare and UnitedHealth Group executives were not accessible on the companies’ websites after the shooting.
The reason for removing the pages was not immediately clear.
The NYPD has announced a $10,000 reward for anyone with information about the shooting.
The NYPD has released chilling footage of the killer who killed United Healthcare CEO Brian Thompson on the streets of Manhattan
Thompson’s wife Paulette said he had received “some threats” before his trip to New York.
“Actually, I don’t know, a lack of cover? I don’t know any details. All I know is that he said there were people threatening him,” she told NBC News.
It comes as Thompson was investigated by the Justice Department for antitrust violations and charged with insider trading.