Beaten-down UNH is set to challenge its 50-day moving average after a major vote of confidence from the Oracle of Omaha.

Buffett, through Berkshire, bought more than 5 million shares of the managed care company, worth an estimated $1.6 billion. Meanwhile, Michael Burry, who became famous in the book and movie The Big Short for his bet against subprime mortgages, bought 20,000 shares. Billionaire David Tepper also increased his stake in the name during the quarter.

UnitedHealth Group ($UNH) stock has recently drawn strong interest from top investors and hedge fund managers, including Warren Buffett.