Connor Clark & Lunn Investment Management Ltd. Has $6.66 Million Position in United Therapeutics Corporation (NASDAQ:UTHR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has increased its stake in United Therapeutics Corporation by 48.6%, owning 21,590 shares valued at approximately $6.66 million as per the recent filing.
• Multiple institutional investors, including Anchor Investment Management and Hohimer Wealth Management, have also adjusted their positions in United Therapeutics, demonstrating strong interest from the hedge fund sector.
• Recent analyst ratings have mixed reviews for United Therapeutics, with price target adjustments from firms such as UBS and Bank of America, reflecting cautious optimism regarding its market performance.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 48.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,590 shares of the biotechnology company's stock after purchasing an additional 7,058 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in United Therapeutics were worth $6,656,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of United Therapeutics during the first quarter worth about $313,000. Allianz Asset Management GmbH increased its stake in shares of United Therapeutics by 96.9% during the first quarter. Allianz Asset Management GmbH now owns 67,576 shares of the biotechnology company's stock worth $20,832,000 after acquiring an additional 33,254 shares during the period. LPL Financial LLC grew its position in United Therapeutics by 77.3% during the first quarter. LPL Financial LLC now owns 25,246 shares of the biotechnology company's stock worth $7,783,000 after buying an additional 11,007 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in United Therapeutics by 11.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,678 shares of the biotechnology company's stock worth $1,129,000 after buying an additional 376 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in United Therapeutics during the first quarter worth about $227,000. 94.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of United Therapeutics from $314.00 to $295.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. HC Wainwright set a $400.00 target price on shares of United Therapeutics and gave the stock a "buy" rating in a research report on Thursday, July 31st. Bank of America lowered their target price on shares of United Therapeutics from $321.00 to $315.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 11th. JPMorgan Chase & Co. lowered their target price on shares of United Therapeutics from $350.00 to $330.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 8th. Finally, Morgan Stanley lowered their target price on shares of United Therapeutics from $348.00 to $328.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $382.00.

United Therapeutics Price Performance

UTHR traded up $2.34 during trading hours on Thursday, reaching $312.06. 586,994 shares of the stock traded hands, compared to its average volume of 676,653. The firm's fifty day simple moving average is $295.25 and its two-hundred day simple moving average is $309.63. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 4.69 and a beta of 0.57. United Therapeutics Corporation has a fifty-two week low of $266.98 and a fifty-two week high of $417.82.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The biotechnology company reported $6.41 earnings per share for the quarter, missing analysts' consensus estimates of $6.80 by ($0.39). The firm had revenue of $798.60 million for the quarter, compared to analyst estimates of $802.13 million. United Therapeutics had a net margin of 40.36% and a return on equity of 18.73%. United Therapeutics's revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $5.85 earnings per share. On average, research analysts predict that United Therapeutics Corporation will post 24.48 earnings per share for the current year.

Insider Activity at United Therapeutics

In other news, Director Nilda Mesa sold 645 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $289.99, for a total value of $187,043.55. Following the transaction, the director directly owned 4,883 shares in the company, valued at approximately $1,416,021.17. This trade represents a 11.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Edgemond sold 12,000 shares of United Therapeutics stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $325.37, for a total transaction of $3,904,440.00. Following the completion of the sale, the chief financial officer owned 8,118 shares in the company, valued at approximately $2,641,353.66. This represents a 59.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,681 shares of company stock valued at $24,618,359. 10.30% of the stock is owned by insiders.

United Therapeutics Company Profile

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.