UnitedHealth shares clocked the largest one-day percent increase since March 2020, as tracked by Dow Jones Market Data Group. It was on pace for the best day in 17 years before giving back some of those gains. For the week, shares rose over 21%, the best week since May 2009. Still, the stock is down more than 50% over the past 12 months.

Buffett owned UnitedHealth shares before selling his stake in 2010, though his Berkshire Hathaway recently acquired shares.

The Oracle of Omaha just took a $1.6 billion stake in the battered healthcare giant, sending shares soaring 9% after hours.