Corebridge Financial Inc. Sells 1,205 Shares of United Therapeutics Corporation $UTHR

Key Points

• Corebridge Financial Inc. reduced its stake in United Therapeutics Corporation by 2.4%, selling 1,205 shares, and now holds approximately 49,306 shares valued at $15.2 million.
• Several institutional investors, including Comerica Bank and Walleye Capital LLC, increased their holdings in United Therapeutics, reflecting positive sentiment with 94.08% of the company's stock owned by institutional investors.
• United Therapeutics reported a quarterly EPS of $6.41, missing estimates, while achieving a 40.36% net margin and an 11.7% year-over-year revenue growth.

Corebridge Financial Inc. lessened its stake in shares of United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,306 shares of the biotechnology company's stock after selling 1,205 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of United Therapeutics worth $15,200,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of UTHR. Vaughan Nelson Investment Management L.P. bought a new stake in shares of United Therapeutics during the first quarter valued at approximately $101,354,000. Nuveen LLC purchased a new position in United Therapeutics in the 1st quarter worth approximately $83,533,000. GAMMA Investing LLC raised its holdings in United Therapeutics by 29,415.2% in the 1st quarter. GAMMA Investing LLC now owns 221,954 shares of the biotechnology company's stock worth $68,422,000 after acquiring an additional 221,202 shares during the last quarter. Invesco Ltd. raised its holdings in United Therapeutics by 46.1% in the 1st quarter. Invesco Ltd. now owns 465,115 shares of the biotechnology company's stock worth $143,381,000 after acquiring an additional 146,664 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in United Therapeutics by 29.1% in the 4th quarter. Northern Trust Corp now owns 488,854 shares of the biotechnology company's stock worth $172,487,000 after acquiring an additional 110,298 shares during the last quarter. 94.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Therapeutics

In related news, CFO James Edgemond sold 12,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $325.37, for a total value of $3,904,440.00. Following the completion of the transaction, the chief financial officer directly owned 8,118 shares of the company's stock, valued at approximately $2,641,353.66. This trade represents a 59.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Giltner sold 3,036 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $289.60, for a total transaction of $879,225.60. Following the completion of the sale, the director owned 19,384 shares in the company, valued at $5,613,606.40. This represents a 13.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,681 shares of company stock valued at $24,537,839 in the last ninety days. Corporate insiders own 10.30% of the company's stock.

Wall Street Analyst Weigh In

UTHR has been the topic of several research reports. HC Wainwright set a $400.00 target price on shares of United Therapeutics and gave the stock a "buy" rating in a report on Thursday, July 31st. Bank of America dropped their price target on United Therapeutics from $321.00 to $315.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 11th. UBS Group upped their price objective on United Therapeutics from $385.00 to $415.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. lowered their target price on United Therapeutics from $350.00 to $330.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. Finally, Morgan Stanley cut their price target on United Therapeutics from $348.00 to $328.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, United Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $382.00.

United Therapeutics Stock Performance

Shares of UTHR traded down $2.48 during mid-day trading on Friday, reaching $304.76. The stock had a trading volume of 418,774 shares, compared to its average volume of 531,944. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 4.63 and a beta of 0.57. United Therapeutics Corporation has a 12 month low of $266.98 and a 12 month high of $417.82. The business has a fifty day moving average of $298.38 and a 200 day moving average of $306.47.

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

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.