Saudi Central Bank grew its position in United Therapeutics Corporation (NASDAQ:UTHR – Free Report) by 82.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,761 shares of the biotechnology company’s stock after buying an additional 1,251 shares during the quarter. Saudi Central Bank’s holdings in United Therapeutics were worth $1,496,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaGrep UK Ltd purchased a new stake in shares of United Therapeutics in the 2nd quarter worth about $836,000. BAM Wealth Management LLC increased its holdings in United Therapeutics by 22.2% during the 2nd quarter. BAM Wealth Management LLC now owns 744 shares of the biotechnology company’s stock valued at $403,000 after acquiring an additional 135 shares in the last quarter. Continuum Advisory LLC acquired a new position in United Therapeutics during the second quarter worth about $112,000. Nykredit A S acquired a new position in United Therapeutics during the second quarter worth about $9,195,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of United Therapeutics in the second quarter valued at about $438,000. Institutional investors and hedge funds own 94.08% of the company’s stock.
Insiders Place Their Bets
In other news, CFO James Edgemond sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $549.29, for a total transaction of $5,492,900.00. Following the sale, the chief financial officer owned 18,876 shares in the company, valued at $10,368,398.04. This trade represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Martine Rothblatt sold 9,500 shares of United Therapeutics stock in a transaction on Monday, June 15th. The shares were sold at an average price of $549.15, for a total value of $5,216,925.00. Following the completion of the sale, the chief executive officer directly owned 40,513 shares of the company’s stock, valued at approximately $22,247,713.95. This represents a 19.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 384,575 shares of company stock worth $203,490,753. Corporate insiders own 8.60% of the company’s stock.
United Therapeutics Price Performance
United Therapeutics (NASDAQ:UTHR – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $7.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.86 by $0.41. United Therapeutics had a net margin of 41.56% and a return on equity of 20.18%. The business had revenue of $783.30 million for the quarter, compared to the consensus estimate of $804.65 million. During the same quarter in the prior year, the firm posted $6.41 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, analysts anticipate that United Therapeutics Corporation will post 26.33 EPS for the current year.
Analyst Ratings Changes
Several research firms have recently commented on UTHR. TD Cowen reiterated a “buy” rating on shares of United Therapeutics in a research report on Thursday, May 21st. Morgan Stanley set a $515.00 price objective on United Therapeutics in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on United Therapeutics from $685.00 to $687.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada lowered their target price on United Therapeutics from $704.00 to $677.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Finally, Bank of America dropped their price target 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. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, United Therapeutics has an average rating of “Moderate Buy” and an average price target of $646.00.
View Our Latest Research Report on UTHR
About United Therapeutics
United Therapeutics Corporation (NASDAQ: UTHR) is a biotechnology company dedicated to the development and commercialization of unique products to address life-threatening illnesses. The company’s primary focus has been on pulmonary arterial hypertension (PAH), where it has launched several therapies designed to improve functional capacity and quality of life for patients. Its marketed products include continuous infusion treprostinil (Remodulin), inhaled treprostinil (Tyvaso), oral treprostinil (Orenitram) and tadalafil (Adcirca), each tailored to different modes of administration and patient needs.
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