179,235 Shares in United Therapeutics Corporation $UTHR Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 179,235 United Therapeutics shares worth approximately $97.1 million in the second quarter, while institutional investors and hedge funds collectively owned 94.08% of the company.
• United Therapeutics beat quarterly earnings expectations, reporting $7.27 in EPS versus the $6.86 consensus estimate, although revenue fell 1.9% year over year to $783.3 million, below expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $646, compared with the stock’s reported price of $494.63; meanwhile, insiders sold 364,303 shares worth approximately $190.3 million during the quarter.

Bank of America Corp DE acquired a new stake in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 179,235 shares of the biotechnology company's stock, valued at approximately $97,115,000. Bank of America Corp DE owned about 0.42% of United Therapeutics at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of UTHR. Summit Street Capital Management LLC acquired a new position in shares of United Therapeutics in the 2nd quarter valued at approximately $28,603,000. Freestone Grove Partners LP acquired a new position in United Therapeutics during the 2nd quarter worth $654,000. Caisse de depot et placement du Quebec acquired a new position in United Therapeutics in the second quarter worth about $154,304,000. Gallagher Fiduciary Advisors LLC acquired a new position in United Therapeutics in the second quarter worth about $307,000. Finally, Odyssean LLC increased its holdings in United Therapeutics by 76.4% in the second quarter. Odyssean LLC now owns 5,445 shares of the biotechnology company's stock valued at $2,950,000 after buying an additional 2,358 shares during the last quarter. 94.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Therapeutics

In other United Therapeutics news, CEO Martine Rothblatt sold 9,500 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $544.60, for a total value of $5,173,700.00. Following the completion of the sale, the chief executive officer owned 40,513 shares of the company's stock, valued at $22,063,379.80. The trade was a 19.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 364,303 shares of company stock worth $190,312,234. Corporate insiders own 8.60% of the company's stock.

United Therapeutics Price Performance

Shares of UTHR opened at $494.63 on Friday. The firm's 50 day moving average is $515.48 and its 200-day moving average is $540.32. United Therapeutics Corporation has a 12-month low of $408.75 and a 12-month high of $609.35. The stock has a market capitalization of $21.21 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.49 and a beta of 0.56.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $7.27 earnings per share for the quarter, topping analysts' consensus estimates of $6.86 by $0.41. United Therapeutics had a return on equity of 20.18% and a net margin of 41.56%.The firm had revenue of $783.30 million for the quarter, compared to analysts' expectations of $804.65 million. During the same quarter last year, the business posted $6.41 EPS. United Therapeutics's revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that United Therapeutics Corporation will post 26.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on UTHR shares. Weiss Ratings cut United Therapeutics from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 27th. Bank of America dropped their price target on United Therapeutics from $620.00 to $613.00 and set a "neutral" rating on the stock in a research report on Friday, July 10th. Morgan Stanley set a $515.00 price objective on shares of United Therapeutics in a report on Thursday, August 6th. Royal Bank Of Canada dropped their target price on shares of United Therapeutics from $704.00 to $677.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of United Therapeutics from $685.00 to $687.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $646.00.

About United Therapeutics

United Therapeutics Corporation is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening conditions, with a primary emphasis on pulmonary arterial hypertension (PAH). The company's products are designed to improve pulmonary blood flow and reduce the effects of this progressive disease.

United Therapeutics' PAH portfolio includes Remodulin (treprostinil) injection, Orenitram (treprostinil) extended-release tablets, and Tyvaso (treprostinil), which is available as an inhalation solution and as the Tyvaso DPI dry-powder inhaler.

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