UnitedHealth Group Inc. (NYSE: UNH) shares rose after investors Michael Burry and Warren Buffett took positions in the company. Burry bought call contracts against 350,000 shares, indicating a positive outlook on the sector. UnitedHealth closed its acquisition of Amedisys, divesting 160 healthcare facilities to address antitrust concerns.

UnitedHealth reported second-quarter earnings of $4.08, down from $6.80 last year, missing the consensus of $4.95. Revenues increased 13% to $111.62 billion, falling short of expectations. The company reestablished its fiscal year 2025 guidance, with adjusted earnings of at least $16 per share versus a consensus of $22.33.

In July, UnitedHealth engaged with the Department of Justice regarding ongoing investigations into its Medicare program participation. The company is cooperating with the Department’s requests and reaffirms its commitment to integrity. A cyberattack on UnitedHealth’s technology unit last year affected 192.7 million people, up from the previously estimated 190 million.

UNH stock is trading higher by 10.57% to $300.18. Warren Buffett’s and Michael Burry’s interest in UnitedHealth, along with positive sector outlook, contributed to the stock’s climb. The company’s acquisition of Amedisys and ongoing engagement with the Department of Justice also impacted market performance.

Read more at Yahoo Finance: Why Is UnitedHealth Stock Trading Higher Friday?