Nicholas Investment Partners LP Increases Stake in United Therapeutics Corporation $UTHR

Key Points

• Nicholas Investment Partners LP boosted its stake in United Therapeutics by 478.5% in the fourth quarter, ending with 4,553 shares worth about $2.2 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 94.08% of the stock. Several other firms also made large additions, including new positions from Darwin Global Management, Norges Bank, and Baillie Gifford.
• United Therapeutics reported mixed quarterly results, missing EPS and revenue estimates even as profitability remained strong. Analysts still lean positive overall, with an average rating of Moderate Buy and an average price target of $619.42.

Nicholas Investment Partners LP lifted its stake in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 478.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,553 shares of the biotechnology company's stock after purchasing an additional 3,766 shares during the quarter. Nicholas Investment Partners LP's holdings in United Therapeutics were worth $2,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of UTHR. Darwin Global Management Ltd. acquired a new position in United Therapeutics in the 3rd quarter worth approximately $317,617,000. Norges Bank acquired a new position in United Therapeutics in the 4th quarter worth approximately $293,418,000. Baillie Gifford & Co. acquired a new position in United Therapeutics in the 4th quarter worth approximately $157,390,000. Balyasny Asset Management L.P. increased its holdings in United Therapeutics by 863.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 152,727 shares of the biotechnology company's stock worth $43,886,000 after buying an additional 136,883 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in United Therapeutics by 108.1% in the 4th quarter. Victory Capital Management Inc. now owns 228,383 shares of the biotechnology company's stock worth $111,280,000 after buying an additional 118,628 shares during the period. 94.08% of the stock is owned by hedge funds and other institutional investors.

United Therapeutics Stock Performance

United Therapeutics stock opened at $545.96 on Friday. The company's fifty day moving average price is $566.75 and its 200 day moving average price is $521.34. United Therapeutics Corporation has a 1 year low of $272.12 and a 1 year high of $609.35. The stock has a market capitalization of $23.17 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.78 and a beta of 0.57.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $5.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.00 by ($1.18). United Therapeutics had a net margin of 40.62% and a return on equity of 19.24%. The company had revenue of $781.50 million during the quarter, compared to analyst estimates of $797.40 million. During the same period in the prior year, the business posted $6.63 EPS. United Therapeutics's revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that United Therapeutics Corporation will post 26.84 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of United Therapeutics from $525.00 to $625.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Jefferies Financial Group reiterated a "buy" rating on shares of United Therapeutics in a report on Monday, March 2nd. UBS Group increased their price target on shares of United Therapeutics from $655.00 to $705.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Morgan Stanley set a $516.00 price target on shares of United Therapeutics in a report on Thursday, May 7th. Finally, Royal Bank Of Canada dropped their price objective on shares of United Therapeutics from $707.00 to $701.00 and set an "outperform" rating on the stock in a research note on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $619.42.

Insider Activity at United Therapeutics

In related news, CFO James Edgemond sold 10,000 shares of United Therapeutics stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $549.29, for a total value of $5,492,900.00. Following the sale, the chief financial officer owned 18,876 shares of the company's stock, valued at approximately $10,368,398.04. This trade represents a 34.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul A. Mahon sold 8,300 shares of United Therapeutics stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $547.07, for a total transaction of $4,540,681.00. Following the completion of the sale, the executive vice president directly owned 45,172 shares in the company, valued at $24,712,246.04. This represents a 15.52% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 634,984 shares of company stock valued at $358,175,202. 8.60% of the stock is owned by company insiders.

About United Therapeutics

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.

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