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BUZZ-UnitedHealth falls after HSBC downgrade, PT cut

Reuters05-21

BUZZ-UnitedHealth falls after HSBC downgrade, PT cut

** Shares of UnitedHealth UNH.N fall 7.35% to $297.95 premarket

** Brokerage HSBC cuts stock to 'reduce' from 'hold', slashes PT to $270 from $490

** UNH has secretly paid nursing homes thousands in bonuses to help slash hospital transfers for ailing residents as part of a series of cost-cutting tactics that saved co millions, but at times risked residents' health, The Guardian reports

** Co did not immediately respond to Reuters' request for comment

** Healthcare conglomerate's shares have been under pressure following its CEO's exit, the suspension of its annual forecast and WSJ report of criminal probe for possible Medicare fraud

** Shares have fallen ~36% YTD

(Reporting by Sriparna Roy in Bengaluru)

((Sriparna.Roy@thomsonreuters.com;))

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