UnitedHealth Shares Tumble 18% in 2026 Amid Rising Medical Expenses and Regulatory Headwinds

UnitedHealth stock is down 18% in 2026 and continues to struggle due to a widening gap between stagnant reimbursement rates and soaring medical expenses. Despite this, the firm remains attractive as it trades at a deep discount with a forward earnings multiple of less than 16x. The aging US population is also a structural tailwind that could drive UNH shares higher. Wall Street analysts remain bullish on the stock for the remainder of 2026.