UnitedHealth’s CFO Shake-Up Doesn’t Deter Retail Bulls; Traders Call Stock A 2018-Level Opportunity

Retail buzz around UnitedHealth Group spiked Thursday after the company named longtime healthcare executive Wayne DeVeydt as its next chief financial officer, effective Sept. 2.

He replaces John F. Rex, who will shift into a strategic advisory role to CEO Stephen Hemsley after nearly a decade as CFO.

Rex recently helped lead a closely watched earnings call during which the company slashed its 2025 adjusted earnings per share (EPS) guidance to at least $16, well below the $30 target reiterated just months earlier and the $27.66 EPS delivered in 2024. 

UnitedHealth now expects full-year revenue between $445.5 billion and $448 billion, below analyst expectations of $449.07 billion, according to Fiscal.ai. 

The company’s guidance pause earlier this year and revised outlook led BofA Securities to lower its price target on UNH from $350 to $300 this week, while maintaining a ‘Neutral’ rating. 

BofA noted that while the outlook may now represent a “floor,” near-term visibility remains limited, especially around Medicare Advantage and OptumHealth margins.

The stock is down more than 50% year-to-date, reflecting deep investor concerns following months of downward revisions, uncertainty, and leadership turnover.

Hemsley, who returned to the helm in May, told analysts that the company is pushing to overhaul internal processes and fundamental business practices, both internally and market-facing, according to the Wall Street Journal.

DeVeydt, 55, brings healthcare and financial experience, having served as CFO of Anthem (now Elevance Health), CEO of Surgery Partners, and most recently as managing director at Bain Capital. 

He is reportedly set to receive a $1 million base salary, a $1.2 million signing bonus, a $5 million stock award, and annual equity worth $10 million.

On Stocktwits, retail sentiment for UnitedHealth was ‘extremely bullish’ amid a 115% surge in 24-hour message volume.

One user said they were hoping for further downside to build a position, noting, “$UNH please drop more to 180 or so. Right before this V,” adding that the stock is already trading at 2018 levels and calling it “like free money.” 

Another user was more aggressive in their outlook, saying they’re “loading the boat” on UnitedHealth and anticipating “large returns over 12 months,” predicting gains of 100% or more.

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