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Stock Alert: UnitedHealth Group Rises Almost 13% After Biden's Big Night

Shares of UnitedHealth Group Inc. (UNH) are rising almost 13 percent in the morning trade on Wednesday at $295.01.

Wednesday, healthcare stocks are surging following the results of the Super Tuesday primaries in the race for the Democratic presidential nomination. Former Vice President Joe Biden performed much better than expected in yesterday's contests, including an upset victory over Senator Bernie Sanders in delegate-rich Texas.

Health insurers such as UnitedHealth (UNH), Anthem (ANTM) and Cigna (CI) saw substantial pre-market strength in reaction to Biden's strong night. Biden has called for expanding the healthcare reform law known as Obamacare rather than scrapping private insurance in favor of a Medicare-for-all plan, as Sanders proposed.

The stock has lost more than 13 percent since February 21. It has traded in a range of $208.07 to $306.71 in the past 52 weeks.

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