In this arranged photo, a UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019.
Lucy Nicholson | Reuters
UnitedHealth reported a better-than-expected quarterly profit on Wednesday, as the largest U.S. health insurer managed to control medical costs and made gains with the unit that houses its pharmacy benefits management business.
Shares of the industry bellwether, however, fell 1% in trading before the bell after the company affirmed its full-year forecast for 2020 adjusted earnings of $16.25 to $16.55 per share, compared to analysts’ average estimates of $16.46.
Analysts said the company was again being conservative in its forecast at…