Key Points
- EVP Paul Mahon sold 8,300 shares at an average $598.67, worth about $4.97 million. He retained 45,172 shares after the sale, a 15.52% reduction in his direct holdings.
- Third-quarter revenue rose 4.1% year over year to $832.5 million, exceeding estimates, but earnings of $5.71 per share missed the $6.01 consensus and declined from $7.16 a year earlier.
- The board authorized a $2 billion share-repurchase program, allowing the company to buy back up to 8.3% of its shares.
United Therapeutics Corporation (NASDAQ:UTHR - Get Free Report) EVP Paul Mahon sold 8,300 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $598.67, for a total value of $4,968,961.00. Following the completion of the sale, the executive vice president directly owned 45,172 shares of the company's stock, valued at approximately $27,043,121.24. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
United Therapeutics Trading Down 7.0%
Shares of NASDAQ UTHR opened at $565.72 on Friday. United Therapeutics Corporation has a 12 month low of $444.04 and a 12 month high of $614.23. The stock has a 50 day moving average of $533.31 and a 200-day moving average of $532.95. The company has a market capitalization of $24.26 billion, a P/E ratio of 21.35, a P/E/G ratio of 4.41 and a beta of 0.49.
United Therapeutics (NASDAQ:UTHR - Get Free Report) last posted its earnings results on Wednesday, November 4th. The biotechnology company reported $5.71 earnings per share for the quarter, missing analysts' consensus estimates of $6.01 by ($0.30). United Therapeutics had a return on equity of 19.18% and a net margin of 38.61%. The business had revenue of $832.50 million for the quarter, compared to analyst estimates of $781.14 million. During the same period in the previous year, the firm posted $7.16 earnings per share. The firm's revenue was up 4.1% compared to the same quarter last year. Analysts predict that United Therapeutics Corporation will post 26.09 EPS for the current fiscal year.
United Therapeutics declared that its board has approved a share buyback program on Thursday, October 22nd that authorizes the company to repurchase $2 billion in shares. This buyback authorization authorizes the biotechnology company to reacquire up to 8.3% of its shares through open market purchases. Share buyback programs are usually an indication that the company's management believes its shares are undervalued.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of United Therapeutics in the second quarter valued at about $2,868,735,000. Janus Henderson Group PLC grew its stake in shares of United Therapeutics by 8.9% in the first quarter. Janus Henderson Group PLC now owns 866,930 shares of the biotechnology company's stock valued at $514,016,000 after acquiring an additional 70,829 shares in the last quarter. Jupiter Topco LLC bought a new position in United Therapeutics during the second quarter worth about $450,140,000. Bank of New York Mellon Corp bought a new position in United Therapeutics during the second quarter worth about $159,522,000. Finally, Caisse de depot et placement du Quebec acquired a new stake in United Therapeutics in the 2nd quarter worth about $154,304,000. 94.08% of the stock is owned by institutional investors and hedge funds.
Key Stories Impacting United Therapeutics
Here are the key news stories impacting United Therapeutics this week:
- Positive Sentiment: Several analysts raised price targets and maintained bullish ratings: BTIG lifted its target to $768, RBC to $725, and TD Cowen to $700. BTIG cited Tyvaso momentum in its positive outlook. Analyst outlook and Tyvaso momentum
- Positive Sentiment: Third-quarter revenue rose 4.1% year over year to $832.5 million, beating estimates of about $781 million. The company also announced a buydown of a royalty tied to ralinepag, potentially improving the economics of the therapy. Third-quarter results Ralinepag royalty announcement
- Negative Sentiment: Adjusted earnings were $5.71 per share, below the roughly $6.01 analyst consensus and down from $7.16 a year earlier. The earnings miss and year-over-year decline in EPS may temper the positive revenue growth news. Quarterly earnings miss
- Negative Sentiment: CEO Martine Rothblatt and EVP Paul Mahon reported stock sales. Insider sales can concern investors, although both executives retained substantial holdings after the transactions. CEO sale filing EVP sale filing
Analyst Upgrades and Downgrades
UTHR has been the topic of several research analyst reports. Bank of America dropped their price objective on shares of United Therapeutics from $620.00 to $613.00 and set a "neutral" rating on the stock in a research report on Friday, July 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $850.00 target price on shares of United Therapeutics in a report on Monday, October 26th. Wells Fargo & Company lifted their target price on shares of United Therapeutics from $700.00 to $703.00 and gave the stock an "overweight" rating in a report on Thursday. Jefferies Financial Group restated a "buy" rating and set a $728.00 price objective on shares of United Therapeutics in a research report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. reduced their price objective on United Therapeutics from $710.00 to $695.00 and set an "overweight" rating for the company in a report on Wednesday, October 28th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $676.40.
Get Our Latest Report on United Therapeutics
United Therapeutics Company Profile
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
