The healthcare company cut its full-year forecast and reported disappointing first-quarter earnings.
UnitedHealth shares plunged more than 20% on Thursday after the insurer dramatically slashed its profit forecast for the year after it revealed disappointing earnings. The Dow component dragged the blue-chip index lower on Thursday. The healthcare company – whose top insurance executive was shot dead in midtown Manhattan in December – cut its full-year adjusted earnings outlook to a range of $26 to $26.50 per share, down from $29.50 to $30 a share. The firm also reported adjusted income of $7.20 a share in the first quarter, below analysts' expectations of $7.29, according to FactSet. UnitedHealth shares plunged on Thursday after the insurer dramatically slashed its forecast for the year. AP Andrew Witty, the firm's chief executive, acknowledged that UnitedHealth "did not perform up to…