UnitedHealth shares fell more than six percent on Wednesday after a shocking report from the Guardian claimed the company secretly paid nursing homes to reduce hospital transfers. The report says this cost-cutting strategy saved UnitedHealth millions but may have harmed elderly patients by keeping them from getting needed hospital care. UnitedHealth denied the accusations and said the U.S. Department of Justice found them to be inaccurate after a long investigation. The DOJ did not take any legal action.

The news adds to UnitedHealth’s ongoing troubles. A cyberattack hit its Change Healthcare unit earlier this year. Federal authorities are investigating the company for possible Medicare fraud. CEO Andrew Witty stepped down suddenly last week. These issues have hurt investor confidence.

Company Denies Claims As Stock Tumbles Amid Crisis

Shares of UnitedHealth have dropped over thirty-nine percent since the start of the year. Analysts say investors are growing nervous about the company’s stability. HSBC downgraded the stock and lowered its price target to a new low. They warned that high medical costs and pressure on its OptumRx unit could delay recovery. A possible Medicaid funding cut may also affect profits.

UnitedHealth has brought back former CEO Stephen Hemsley to help manage the crisis and rebuild trust. Many believe Hemsley’s experience will be key to guiding the company forward.

“This is kind of a tough situation for investors to come in and have any kind of confidence in putting money to work, so we’ll have to kind of wait and see how this plays itself out, unfortunately,” said Sahak Manuelian of Wedbush.

As questions continue about its operations and ethics UnitedHealth is under close watch from both the public and investors.