The health insurance giant has called a new report from WSJ "misinformation," but investors may not be so sure. Shares were down about 9% early Friday.

UnitedHealth Group called The Wall Street Journal's report "misinformation" and said it was unaware of reported investigaiton.

In this post-shooting and DOGE-era, regulators may be emboldened to make more changes than they otherwise would have on insurers that are seen to be fleecing the system,” explained one analyst.