Key Points
- CEO Martine Rothblatt sold 9,500 United Therapeutics shares at an average price of $588.64, generating approximately $5.59 million. Her remaining stake totaled 324,443 shares, a 2.84% reduction.
- United Therapeutics reported quarterly EPS of $7.27, exceeding expectations of $6.86, while revenue of $783.3 million fell short of estimates and declined 1.9% year over year.
- The company authorized a $2 billion share-repurchase plan covering up to 8.3% of outstanding shares. Analysts maintained a “Moderate Buy” consensus with an average price target of $666.50.
United Therapeutics Corporation (NASDAQ:UTHR - Get Free Report) CEO Martine Rothblatt sold 9,500 shares of United Therapeutics stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $588.64, for a total transaction of $5,592,080.00. Following the sale, the chief executive officer owned 324,443 shares of the company's stock, valued at approximately $190,980,127.52. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
United Therapeutics Price Performance
Shares of NASDAQ UTHR opened at $591.20 on Wednesday. United Therapeutics Corporation has a 52-week low of $409.07 and a 52-week high of $609.35. The business's 50 day moving average is $522.90 and its two-hundred day moving average is $528.93.
United Therapeutics (NASDAQ:UTHR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $7.27 earnings per share for the quarter, beating analysts' consensus estimates of $6.86 by $0.41. The firm had revenue of $783.30 million during the quarter, compared to analyst estimates of $804.65 million. The company's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.41 earnings per share. Sell-side analysts expect that United Therapeutics Corporation will post 26.07 EPS for the current fiscal year.
United Therapeutics declared that its Board of Directors has approved a share repurchase plan on Thursday, October 22nd that permits the company to repurchase $2 billion in shares. This buyback authorization permits the biotechnology company to purchase up to 8.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Callan Family Office LLC acquired a new position in United Therapeutics in the second quarter valued at approximately $1,217,000. Andra AP fonden increased its stake in United Therapeutics by 33.5% in the second quarter. Andra AP fonden now owns 34,904 shares of the biotechnology company's stock valued at $18,912,000 after purchasing an additional 8,760 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in United Therapeutics in the second quarter valued at approximately $3,359,000. Partners Capital Investment Group LLP purchased a new position in United Therapeutics in the second quarter valued at approximately $1,691,000. Finally, Palo Alto Investors LP acquired a new stake in United Therapeutics during the second quarter worth approximately $33,911,514. 94.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on UTHR shares. Bank of America dropped their target price on United Therapeutics from $620.00 to $613.00 and set a "neutral" rating for the company in a research report on Friday, July 10th. UBS Group set a $725.00 price target on shares of United Therapeutics in a research report on Monday, October 19th. Leerink Partners lifted their price objective on shares of United Therapeutics from $685.00 to $725.00 and gave the company an "outperform" rating in a report on Monday, October 19th. JPMorgan Chase & Co. upped their target price on shares of United Therapeutics from $685.00 to $687.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $728.00 target price on shares of United Therapeutics in a research note on Wednesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, United Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $666.50.
Read Our Latest Stock Report on United Therapeutics
About United Therapeutics
(
Get Free Report)
United Therapeutics Corporation is a biotechnology company focused on developing and commercializing therapies for patients with life-threatening conditions, particularly pulmonary arterial hypertension (PAH). The company's portfolio includes Tyvaso and Tyvaso DPI, inhaled formulations of treprostinil; Remodulin, an injectable treprostinil product; and Orenitram, an oral treprostinil therapy. These treatments are designed to improve exercise ability and delay disease progression in people with PAH.
The company also markets Unituxin, an antibody therapy used as part of treatment for high-risk neuroblastoma, a type of childhood cancer.
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