Veritas Asset Management Trims Stake in UnitedHealth Group

Veritas Asset Management LLP has reduced its stake in UnitedHealth Group Incorporated (NYSE:UNH), selling off about 42.7% of its shares during the second quarter, according to a recent SEC filing.

The fund now owns 1,078,201 shares of UnitedHealth's stock after unloading 803,870 shares in the period, making it the company's 5th largest holding at approximately 8.1% of Veritas' total holdings.

UnitedHealth Group Incorporated is a diversified healthcare conglomerate with two primary business platforms: UnitedHealthcare and Optum, which operates commercial employer-sponsored plans, individual and Medicare and Medicaid programs, as well as services for customers and health systems in the US and selected international markets.

The company recently announced its earnings results for the quarter ended July 16th, topping consensus estimates with $6.38 EPS on revenue of $112.03 billion, a year-over-year increase of 0.4%.