Key Points
- CEO Martine Rothblatt sold 9,500 United Therapeutics shares for about $5.36 million, reducing her stake by 2.84%; she still owned 324,443 shares after the transaction.
- In its latest quarter, the company reported EPS of $5.71, below the $6.01 consensus estimate, while revenue of $832.5 million exceeded estimates and rose 4.1% year over year.
- United Therapeutics authorized a $2 billion share repurchase plan, covering up to 8.3% of its shares. Analysts’ consensus rating was “Moderate Buy,” with a $676.40 average price target.
United Therapeutics Corporation (NASDAQ:UTHR - Get Free Report) CEO Martine Rothblatt sold 9,500 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $564.51, for a total value of $5,362,845.00. Following the completion of the transaction, the chief executive officer owned 324,443 shares of the company's stock, valued at approximately $183,151,317.93. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
United Therapeutics Trading Up 3.6%
Shares of United Therapeutics stock opened at $582.46 on Tuesday. The firm has a market capitalization of $24.98 billion, a P/E ratio of 21.98, a P/E/G ratio of 4.41 and a beta of 0.49. The business has a fifty day simple moving average of $535.33 and a two-hundred day simple moving average of $533.99. United Therapeutics Corporation has a 12 month low of $445.81 and a 12 month high of $614.23.
United Therapeutics (NASDAQ:UTHR - Get Free Report) last announced its earnings results on Wednesday, November 4th. The biotechnology company reported $5.71 EPS for the quarter, missing analysts' consensus estimates of $6.01 by ($0.30). The business had revenue of $832.50 million for the quarter, compared to the consensus estimate of $781.14 million. United Therapeutics had a net margin of 38.61% and a return on equity of 19.18%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $7.16 EPS. Analysts predict that United Therapeutics Corporation will post 24.77 earnings per share for the current year.
United Therapeutics declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 22nd that allows the company to repurchase $2 billion in shares. This buyback authorization allows the biotechnology company to reacquire up to 8.3% of its stock through open market purchases. Share buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on UTHR. UBS Group set a $725.00 price objective on shares of United Therapeutics in a report on Monday, October 19th. Weiss Ratings lowered shares of United Therapeutics from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 27th. Wells Fargo & Company lifted their target price on shares of United Therapeutics from $700.00 to $703.00 and gave the company an "overweight" rating in a report on Thursday. Leerink Partners boosted their price target on United Therapeutics from $685.00 to $725.00 and gave the stock an "outperform" rating in a research report on Monday, October 19th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $728.00 price target on shares of United Therapeutics in a research note on Wednesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $676.40.
Check Out Our Latest Report on UTHR
Hedge Funds Weigh In On United Therapeutics
Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in United Therapeutics during the 2nd quarter valued at about $2,868,735,000. Janus Henderson Group PLC increased its stake in United Therapeutics by 8.9% during the 1st quarter. Janus Henderson Group PLC now owns 866,930 shares of the biotechnology company's stock valued at $514,016,000 after purchasing an additional 70,829 shares in the last quarter. Jupiter Topco LLC purchased a new position in United Therapeutics in the second quarter worth about $450,140,000. Bank of New York Mellon Corp purchased a new position in United Therapeutics in the second quarter worth about $159,522,000. Finally, Caisse de depot et placement du Quebec purchased a new position in United Therapeutics in the second quarter worth about $154,304,000. Hedge funds and other institutional investors own 94.08% of the company's stock.
About United Therapeutics
(
Get Free Report)
United Therapeutics is a biotechnology company that develops and commercializes treatments for serious diseases, with a primary focus on pulmonary arterial hypertension (PAH). Its therapies include treprostinil products delivered by injection, inhalation, or oral tablet, marketed under brands including Remodulin, Tyvaso, and Orenitram. The company also markets Unituxin, a treatment for high-risk neuroblastoma.
Founded in 1996 by Martine Rothblatt, United Therapeutics is also pursuing technologies intended to address the shortage of transplantable organs.
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