Man Group plc Invests $73.09 Million in United Therapeutics Corporation $UTHR

Key Points

• Man Group initiated a $73.09 million position in United Therapeutics during the second quarter, purchasing 134,890 shares and acquiring a 0.31% stake. Institutional investors collectively own 94.08% of the company.
• United Therapeutics reported quarterly EPS of $7.27, exceeding estimates of $6.86, while revenue of $783.3 million fell short of expectations and declined 1.9% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $646, compared with the stock’s reported price of $518.53. However, company insiders sold $233.34 million worth of shares over the past three months.

Man Group plc bought a new stake in shares of United Therapeutics Corporation (NASDAQ:UTHR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 134,890 shares of the biotechnology company's stock, valued at approximately $73,087,000. Man Group plc owned 0.31% of United Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of United Therapeutics by 141.7% in the first quarter. Geneos Wealth Management Inc. now owns 145 shares of the biotechnology company's stock valued at $45,000 after buying an additional 85 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of United Therapeutics by 18.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 443 shares of the biotechnology company's stock worth $127,000 after buying an additional 70 shares during the period. Jump Financial LLC purchased a new position in shares of United Therapeutics during the 2nd quarter valued at approximately $277,000. Cerity Partners LLC grew its stake in United Therapeutics by 77.3% in the 2nd quarter. Cerity Partners LLC now owns 12,843 shares of the biotechnology company's stock valued at $3,691,000 after acquiring an additional 5,600 shares during the period. Finally, Bank of Nova Scotia increased its holdings in United Therapeutics by 6.9% in the 2nd quarter. Bank of Nova Scotia now owns 1,628 shares of the biotechnology company's stock worth $468,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 94.08% of the company's stock.

United Therapeutics Stock Up 1.1%

NASDAQ UTHR opened at $518.53 on Wednesday. United Therapeutics Corporation has a 52 week low of $302.19 and a 52 week high of $609.35. The firm has a market cap of $22.24 billion, a PE ratio of 18.55, a P/E/G ratio of 1.74 and a beta of 0.59. The business's fifty day simple moving average is $531.75 and its 200-day simple moving average is $538.30.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $7.27 EPS for the quarter, beating the consensus estimate of $6.86 by $0.41. United Therapeutics had a return on equity of 20.18% and a net margin of 41.56%.The business had revenue of $783.30 million for the quarter, compared to analyst estimates of $804.65 million. During the same quarter in the prior year, the company posted $6.41 EPS. The company's quarterly revenue was down 1.9% on a year-over-year basis. Research analysts expect that United Therapeutics Corporation will post 26.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UTHR. TD Cowen restated a "buy" rating on shares of United Therapeutics in a research report on Thursday, May 21st. Wells Fargo & Company raised shares of United Therapeutics from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $575.00 to $735.00 in a research note on Thursday, May 7th. Bank of America reduced their price target on shares of United Therapeutics from $620.00 to $613.00 and set a "neutral" rating for the company in a research report on Friday, July 10th. Weiss Ratings raised shares of United Therapeutics from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Finally, Morgan Stanley set a $515.00 price objective on United Therapeutics in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $646.00.

Insider Buying and Selling

In other news, CEO Martine A. Rothblatt sold 9,500 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $511.97, for a total value of $4,863,715.00. Following the transaction, the chief executive officer directly owned 324,443 shares in the company, valued at approximately $166,105,082.71. This represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul A. Mahon sold 8,300 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $523.14, for a total transaction of $4,342,062.00. Following the transaction, the executive vice president directly owned 45,172 shares of the company's stock, valued at $23,631,280.08. The trade was a 15.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 434,075 shares of company stock worth $233,340,010 over the last three months. Insiders own 8.60% of the company's stock.

United Therapeutics Company Profile

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.

Want to see what other hedge funds are holding UTHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Therapeutics Corporation (NASDAQ:UTHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source