Warren Buffett, UnitedHealth
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The Oracle of Omaha just took a $1.6 billion stake in the battered healthcare giant, sending shares soaring 9% after hours.
The investment comes as UnitedHealth faces soaring medical costs, federal investigations, the fallout of the killing of a top executive and a cyberattack last year.
Warren Buffett's Berkshire Hathaway has acquired 5 million shares in UnitedHealth Group , a regulatory filing showed on Thursday, sending the health insurer's stock up 7% in extended trading.
Buffett owned UnitedHealth shares before selling his stake in 2010, though his Berkshire Hathaway recently acquired shares.
Warren Buffett's Berkshire Hathaway increased its holdings in UnitedHealth Group stock, and also added positions in D.R. Horton, Lamar Advertising, and Nucor.
Warren Buffett's Berkshire Hathaway built a $1.6 billion stake in UnitedHealth last quarter, marking one of its last wagers with the investor as CEO.