Shares of UnitedHealth Group surged nearly 14% on Friday after billionaire Warren Buffett's Berkshire Hathaway bought 5 million shares of the company, providing a shot in the arm for investors who think the health conglomerate will turn around under its new CEO.

Berkshire Hathaway recently filed its second-quarter 13F form, revealing its stock holdings at the end of June.

Berkshire Hathaway's $1.6 billion stake in UnitedHealth Group is helping to lift the Dow Jones Industrial Average to a new record as investors pile into healthcare sector funds.

The investment comes as UnitedHealth faces soaring medical costs, federal investigations, the fallout of the killing of a top executive and a cyberattack last year.

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

Berkshire Hathaway revealed four new investments Thursday in steelmaker Nucor, insurer UnitedHealth and two of the nation’s biggest homebuilders — Lennar and DR Horton — but only one of the investments was big enough to ensure that legendary investor Warren Buffett may have handled them.

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

Warren Buffett's Berkshire Hathaway has acquired 5 million shares in UnitedHealth Group , a regulatory filing showed on Thursday, sending the health insurer's stock up 7% in extended trading.

UNH stock soared after Warren Buffett’s Berkshire Hathaway revealed it bought shares of the healthcare company. Nonetheless, UnitedHealth faces a long list of unresolved issues.