Lord Abbett & CO. LLC Buys 27,270 Shares of United Therapeutics Corporation (NASDAQ:UTHR)

Key Points

• Lord Abbett & CO. LLC increased its stake in United Therapeutics Corporation by 12.6% during Q1, owning approximately 0.54% of the company valued at $75.19 million.
• Insider selling reports indicate that CFO James Edgemond sold 12,000 shares, marking a significant 59.65% decrease in his ownership, while other directors also reduced their stakes.
• United Therapeutics reported Q2 earnings of $6.41 per share, which fell short of analyst expectations, and their revenue grew by 11.7% year-over-year, amounting to $798.6 million.

Lord Abbett & CO. LLC increased its stake in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 12.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 243,921 shares of the biotechnology company's stock after purchasing an additional 27,270 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.54% of United Therapeutics worth $75,194,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of UTHR. Dunhill Financial LLC raised its holdings in United Therapeutics by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 100 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 50 shares during the period. Sound Income Strategies LLC purchased a new position in United Therapeutics in the first quarter worth $49,000. State of Wyoming bought a new stake in United Therapeutics in the fourth quarter worth $62,000. Curat Global LLC bought a new stake in United Therapeutics in the first quarter worth $63,000. Finally, Natixis bought a new stake in United Therapeutics in the fourth quarter worth $85,000. Institutional investors own 94.08% of the company's stock.

United Therapeutics Stock Performance

Shares of UTHR stock traded up $1.07 during mid-day trading on Friday, reaching $313.13. 703,795 shares of the company's stock traded hands, compared to its average volume of 683,031. United Therapeutics Corporation has a 12 month low of $266.98 and a 12 month high of $417.82. The firm has a 50 day moving average price of $295.00 and a two-hundred day moving average price of $308.79. The firm has a market capitalization of $14.13 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 4.74 and a beta of 0.57.

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

Insider Buying and Selling at United Therapeutics

In related news, EVP Paul A. Mahon sold 11,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $279.96, for a total value of $3,079,560.00. Following the completion of the transaction, the executive vice president owned 36,781 shares of the company's stock, valued at approximately $10,297,208.76. This trade represents a 23.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Edgemond sold 12,000 shares of the 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 transaction, the chief financial officer directly owned 8,118 shares of the company's stock, valued at approximately $2,641,353.66. The trade was a 59.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,681 shares of company stock worth $24,618,359 in the last 90 days. 10.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UTHR. UBS Group upped their price objective on shares of United Therapeutics from $385.00 to $415.00 and gave the company a "buy" rating in a research note on Wednesday. Bank of America decreased their target price on shares of United Therapeutics from $321.00 to $315.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of United Therapeutics in a research note on Thursday. Wells Fargo & Company decreased their target price on shares of United Therapeutics from $314.00 to $295.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of United Therapeutics from $350.00 to $330.00 and set an "overweight" rating for the company in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, United Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $382.00.

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.