Allspring Global Investments Holdings LLC Raises Stake in United Therapeutics Corporation $UTHR

Key Points

• Allspring Global Investments increased its stake in United Therapeutics by 2.5%, now owning 84,865 shares valued at $24.7 million at the end of the second quarter.
• United Therapeutics reported $6.41 earnings per share in its latest quarterly results, missing expectations of $6.80, but the company's revenue increased by 11.7% year-over-year to $798.6 million.
• A significant majority of United Therapeutics stock, 94.08%, is owned by hedge funds and other institutional investors, indicating strong institutional interest in the company.

Allspring Global Investments Holdings LLC increased its stake in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 2.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 84,865 shares of the biotechnology company's stock after buying an additional 2,101 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.19% of United Therapeutics worth $24,688,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UTHR. Chung Wu Investment Group LLC purchased a new position in shares of United Therapeutics in the 2nd quarter worth about $29,000. SVB Wealth LLC purchased a new position in shares of United Therapeutics in the 1st quarter worth about $32,000. Geneos Wealth Management Inc. raised its stake in United Therapeutics by 141.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 145 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 85 shares during the period. Brooklyn Investment Group raised its stake in United Therapeutics by 103.2% in the 1st quarter. Brooklyn Investment Group now owns 193 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 98 shares during the period. Finally, WPG Advisers LLC bought a new stake in United Therapeutics in the 1st quarter valued at about $60,000. 94.08% of the stock is owned by hedge funds and other institutional investors.

United Therapeutics Stock Up 0.1%

Shares of UTHR opened at $432.69 on Friday. The business's 50-day moving average price is $383.05 and its 200-day moving average price is $327.06. United Therapeutics Corporation has a twelve month low of $266.98 and a twelve month high of $459.48. The stock has a market cap of $19.52 billion, a PE ratio of 16.89, a P/E/G ratio of 4.71 and a beta of 0.66.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The biotechnology company reported $6.41 earnings per share for the quarter, missing the consensus estimate of $6.80 by ($0.39). United Therapeutics had a net margin of 40.36% and a return on equity of 18.73%. The company had revenue of $798.60 million for the quarter, compared to the consensus estimate of $802.13 million. During the same quarter in the prior year, the company earned $5.85 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. Analysts expect that United Therapeutics Corporation will post 24.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on UTHR shares. UBS Group boosted their price objective on United Therapeutics from $560.00 to $580.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Morgan Stanley boosted their price objective on United Therapeutics from $328.00 to $435.00 and gave the company an "equal weight" rating in a research note on Friday, October 10th. Cantor Fitzgerald boosted their price objective on United Therapeutics from $405.00 to $525.00 and gave the company an "overweight" rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. lowered their price objective on United Therapeutics from $350.00 to $330.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada started coverage on United Therapeutics in a research note on Friday, September 26th. They issued an "outperform" rating and a $569.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, United Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $457.21.

Insider Activity at United Therapeutics

In related news, EVP Paul A. Mahon sold 11,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $308.75, for a total value of $3,396,250.00. Following the transaction, the executive vice president directly owned 36,781 shares in the company, valued at approximately $11,356,133.75. This represents a 23.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Benkowitz sold 22,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $417.64, for a total transaction of $9,396,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 292,435 shares of company stock worth $118,956,307. 10.30% of the stock is owned by company insiders.

About United Therapeutics

United Therapeutics Corporation, a biotechnology company, engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally. The company offers Tyvaso DPI, an inhaled dry powder via pre-filled and single-use cartridges; Tyvaso, an inhaled solution via ultrasonic nebulizer; Remodulin (treprostinil) injection to treat patients with pulmonary arterial hypertension (PAH) to diminish symptoms associated with exercise; Orenitram, a tablet dosage form of treprostinil, to delay disease progression and improve exercise capacity in PAH patients; and Adcirca, an oral PDE-5 inhibitor to enhance the exercise ability in PAH patients.

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