Meeder Asset Management Inc. Purchases Shares of 9,236 United Therapeutics Corporation $UTHR

Key Points

• Meeder Asset Management purchased 9,236 shares of United Therapeutics during the second quarter, valued at approximately $5.0 million. Institutional investors collectively own 94.08% of the company.
• United Therapeutics exceeded quarterly earnings expectations, reporting EPS of $7.27 versus the $6.86 consensus, although revenue declined 1.9% year over year to $783.3 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $646, while company insiders have sold approximately $246.2 million of stock over the past 90 days.

Meeder Asset Management Inc. acquired a new stake in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,236 shares of the biotechnology company's stock, valued at approximately $5,004,000.

A number of other hedge funds have also recently made changes to their positions in the business. Citizens Financial Group Inc. RI bought a new stake in United Therapeutics during the 2nd quarter valued at approximately $391,000. BlackRock Inc. bought a new position in United Therapeutics in the 2nd quarter worth approximately $2,868,735,000. Pallas Capital Advisors LLC bought a new position in United Therapeutics in the 2nd quarter worth approximately $1,207,000. Deutsche Bank AG purchased a new stake in United Therapeutics during the 2nd quarter valued at approximately $105,803,000. Finally, Perigon Wealth Management LLC purchased a new stake in United Therapeutics during the 2nd quarter valued at approximately $322,000. Institutional investors own 94.08% of the company's stock.

United Therapeutics Price Performance

NASDAQ:UTHR opened at $508.48 on Tuesday. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.69 and a beta of 0.59. United Therapeutics Corporation has a 1 year low of $302.19 and a 1 year high of $609.35. The stock's 50 day simple moving average is $535.22 and its two-hundred day simple moving average is $536.38.

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

Insiders Place Their Bets

In other United Therapeutics news, EVP Paul A. Mahon sold 8,300 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $517.05, for a total transaction of $4,291,515.00. Following the completion of the transaction, the executive vice president owned 45,172 shares in the company, valued at $23,356,182.60. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Martine A. Rothblatt sold 9,500 shares of United Therapeutics stock in a transaction on Friday, August 14th. The stock was sold at an average price of $498.91, for a total transaction of $4,739,645.00. Following the completion of the transaction, the chief executive officer directly owned 324,443 shares of the company's stock, valued at $161,867,857.13. The trade was a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 452,575 shares of company stock worth $246,248,389. 8.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

UTHR has been the topic of several research analyst reports. Morgan Stanley set a $515.00 target price on shares of United Therapeutics in a report on Thursday, August 6th. Royal Bank Of Canada cut their target price on shares of United Therapeutics from $704.00 to $677.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Bank of America reduced 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. TD Cowen reiterated a "buy" rating on shares of United Therapeutics in a research note on Thursday, May 21st. Finally, Wells Fargo & Company raised shares of United Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $575.00 to $735.00 in a report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, United Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $646.00.

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.

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