Bank of New York Mellon Corp Trims Holdings in United Therapeutics Corporation $UTHR

Key Points

• Bank of New York Mellon reduced its United Therapeutics stake by 1.3% in the first quarter, but still held 329,148 shares worth about $195.2 million, or 0.75% of the company.
• Insider selling has been significant: CFO James Edgemond sold 10,000 shares in late April, and insiders have sold 564,743 shares worth $316.4 million over the last 90 days.
• United Therapeutics reported weaker-than-expected first-quarter results, with EPS of $5.82 versus the $7.00 consensus and revenue of $781.5 million, while analysts still mostly rate the stock a Moderate Buy with an average target price of $644.82.

Bank of New York Mellon Corp trimmed its stake in shares of United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 329,148 shares of the biotechnology company's stock after selling 4,481 shares during the quarter. Bank of New York Mellon Corp owned 0.75% of United Therapeutics worth $195,178,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in UTHR. Torren Management LLC purchased a new position in United Therapeutics during the 4th quarter valued at about $26,000. Activest Wealth Management lifted its holdings in shares of United Therapeutics by 1,400.0% in the fourth quarter. Activest Wealth Management now owns 60 shares of the biotechnology company's stock worth $29,000 after buying an additional 56 shares in the last quarter. WealthCollab LLC lifted its holdings in shares of United Therapeutics by 55.9% in the second quarter. WealthCollab LLC now owns 106 shares of the biotechnology company's stock worth $30,000 after buying an additional 38 shares in the last quarter. Rakuten Securities Inc. boosted its position in shares of United Therapeutics by 76.7% in the second quarter. Rakuten Securities Inc. now owns 106 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 46 shares during the period. Finally, Entrust Financial LLC bought a new position in shares of United Therapeutics in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 94.08% of the company's stock.

Insider Activity at United Therapeutics

In other news, CFO James Edgemond sold 10,000 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $572.61, for a total transaction of $5,726,100.00. Following the sale, the chief financial officer owned 18,876 shares in the company, valued at approximately $10,808,586.36. This trade represents a 34.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 564,743 shares of company stock valued at $316,423,257. 8.60% of the stock is owned by corporate insiders.

United Therapeutics Trading Up 1.3%

Shares of NASDAQ UTHR opened at $535.67 on Friday. The business has a 50-day moving average of $552.38 and a 200-day moving average of $530.14. The firm has a market capitalization of $22.74 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.79 and a beta of 0.58. United Therapeutics Corporation has a 12 month low of $272.12 and a 12 month high of $609.35.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $5.82 earnings per share for the quarter, missing analysts' consensus estimates of $7.00 by ($1.18). United Therapeutics had a net margin of 40.62% and a return on equity of 19.24%. The company had revenue of $781.50 million during the quarter, compared to analysts' expectations of $797.40 million. During the same period in the prior year, the business earned $6.63 earnings per share. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that United Therapeutics Corporation will post 26.63 earnings per share for the current year.

Wall Street Analyst Weigh In

UTHR has been the subject of several recent analyst reports. TD Cowen reaffirmed a "buy" rating on shares of United Therapeutics in a research note on Thursday, May 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of United Therapeutics in a research note on Thursday, June 11th. Wells Fargo & Company raised shares of United Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $575.00 to $735.00 in a report on Thursday, May 7th. HC Wainwright boosted their price target on shares of United Therapeutics from $600.00 to $660.00 and gave the company a "buy" rating in a research report on Tuesday, March 31st. Finally, Bank of America decreased their price target on shares of United Therapeutics from $620.00 to $613.00 and set a "neutral" rating on the stock in a report on Friday, July 10th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, United Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $644.82.

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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