Key Points
- CEO Martine Rothblatt sold 9,500 shares for about $5.66 million at an average of $596.22 each, reducing her stake by 2.84%; she still owned 324,443 shares after the transaction.
- United Therapeutics’ board authorized a $2 billion share repurchase plan, allowing the company to buy back up to 8.3% of its outstanding shares.
- The company beat quarterly EPS estimates ($7.27 versus $6.86), but revenue of $783.3 million fell short of forecasts and declined 1.9% year over year. Analysts’ consensus rating was “Moderate Buy,” with a $667.07 average price target.
United Therapeutics Corporation (NASDAQ:UTHR - Get Free Report) CEO Martine Rothblatt sold 9,500 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $596.22, for a total value of $5,664,090.00. Following the completion of the sale, the chief executive officer owned 324,443 shares of the company's stock, valued at approximately $193,439,405.46. This represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
United Therapeutics Trading Up 0.9%
UTHR stock opened at $601.32 on Wednesday. The company has a market capitalization of $25.79 billion, a P/E ratio of 21.51, a PEG ratio of 4.32 and a beta of 0.49. United Therapeutics Corporation has a twelve month low of $430.02 and a twelve month high of $609.99. The business has a 50 day simple moving average of $530.53 and a 200-day simple moving average of $531.77.
United Therapeutics (NASDAQ:UTHR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $7.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.86 by $0.41. The business had revenue of $783.30 million for the quarter, compared to analyst estimates of $804.65 million. United Therapeutics had a net margin of 41.56% and a return on equity of 20.18%. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $6.41 earnings per share. Research analysts predict that United Therapeutics Corporation will post 26.09 EPS for the current fiscal year.
United Therapeutics announced that its board has approved a stock repurchase plan on Thursday, October 22nd that allows the company to repurchase $2 billion in outstanding shares. This repurchase authorization allows the biotechnology company to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages have issued reports on UTHR. The Goldman Sachs Group reissued a "sell" rating and set a $368.00 price objective on shares of United Therapeutics in a research report on Thursday, October 15th. Morgan Stanley increased their target price on shares of United Therapeutics from $515.00 to $566.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 7th. Jefferies Financial Group reissued a "buy" rating and set a $728.00 price target on shares of United Therapeutics in a report on Wednesday, October 14th. UBS Group set a $725.00 price target on United Therapeutics in a report on Monday, October 19th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $850.00 price target on shares of United Therapeutics in a research report on Monday, October 26th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, United Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $667.07.
View Our Latest Stock Analysis on UTHR
Institutional Investors Weigh In On United Therapeutics
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in United Therapeutics during the 2nd quarter worth $2,868,735,000. Janus Henderson Group PLC lifted its stake in shares of United Therapeutics by 8.9% in the 1st quarter. Janus Henderson Group PLC now owns 866,930 shares of the biotechnology company's stock worth $514,016,000 after acquiring an additional 70,829 shares during the period. Jupiter Topco LLC acquired a new stake in shares of United Therapeutics in the 2nd quarter worth $450,140,000. Swedbank AB boosted its holdings in shares of United Therapeutics by 0.7% in the first quarter. Swedbank AB now owns 327,122 shares of the biotechnology company's stock valued at $193,977,000 after acquiring an additional 2,350 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of United Therapeutics by 23.5% in the first quarter. First Trust Advisors LP now owns 270,578 shares of the biotechnology company's stock valued at $160,447,000 after acquiring an additional 51,555 shares in the last quarter. 94.08% of the stock is owned by institutional investors and hedge funds.
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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