Renaissance Technologies LLC Has $1.06 Billion Stake in United Therapeutics Corporation $UTHR

Key Points

• Renaissance Technologies trimmed its United Therapeutics stake by 6.4% in Q1, but the biotech stock remains its biggest holding at about $1.06 billion and 4.21% of the fund’s portfolio.
• United Therapeutics reported Q1 earnings of $5.82 per share, missing analysts’ $7.00 estimate, while revenue of $781.5 million also came in below expectations and declined 1.6% year over year.
• Wall Street remains broadly positive on the stock, with 11 Buy ratings and 2 Hold ratings, and an average price target of $648.33; meanwhile, company insiders have sold shares recently, including CEO Martine A. Rothblatt and EVP Paul A. Mahon.

Renaissance Technologies LLC decreased its holdings in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,787,019 shares of the biotechnology company's stock after selling 122,240 shares during the quarter. United Therapeutics accounts for approximately 1.7% of Renaissance Technologies LLC's investment portfolio, making the stock its biggest holding. Renaissance Technologies LLC owned 4.21% of United Therapeutics worth $1,059,667,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Leuthold Group LLC grew its holdings in United Therapeutics by 41.4% during the fourth quarter. Leuthold Group LLC now owns 10,672 shares of the biotechnology company's stock worth $5,200,000 after buying an additional 3,126 shares in the last quarter. UBS Group AG boosted its holdings in United Therapeutics by 45.3% during the 4th quarter. UBS Group AG now owns 225,849 shares of the biotechnology company's stock worth $110,045,000 after acquiring an additional 70,445 shares during the last quarter. Perpetual Ltd bought a new stake in shares of United Therapeutics in the 4th quarter worth $1,059,000. SG Americas Securities LLC grew its position in United Therapeutics by 88.6% in the 4th quarter. SG Americas Securities LLC now owns 26,960 shares of the biotechnology company's stock worth $13,136,000 after purchasing an additional 12,663 shares in the last quarter. Finally, Brookstone Capital Management boosted its stake in shares of United Therapeutics by 25.4% in the 4th quarter. Brookstone Capital Management now owns 6,622 shares of the biotechnology company's stock worth $3,227,000 after buying an additional 1,342 shares during the last quarter. Institutional investors and hedge funds own 94.08% of the company's stock.

United Therapeutics Stock Performance

Shares of United Therapeutics stock opened at $528.47 on Friday. United Therapeutics Corporation has a 52-week low of $272.12 and a 52-week high of $609.35. The stock's 50-day simple moving average is $547.88 and its 200 day simple moving average is $531.39. The stock has a market capitalization of $22.43 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.77 and a beta of 0.58.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $5.82 earnings per share for the quarter, missing analysts' consensus estimates of $7.00 by ($1.18). The business had revenue of $781.50 million for the quarter, compared to the consensus estimate of $797.40 million. United Therapeutics had a return on equity of 19.24% and a net margin of 40.62%.United Therapeutics's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.63 EPS. Equities research analysts forecast that United Therapeutics Corporation will post 26.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Martine A. Rothblatt sold 9,500 shares of the company's stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $535.99, for a total transaction of $5,091,905.00. Following the sale, the chief executive officer directly owned 40,513 shares in the company, valued at $21,714,562.87. This represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paul A. Mahon sold 8,300 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $552.56, for a total transaction of $4,586,248.00. Following the completion of the sale, the executive vice president directly owned 45,172 shares in the company, valued at approximately $24,960,240.32. The trade was a 15.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 513,333 shares of company stock worth $286,933,042 over the last 90 days. Corporate insiders own 8.60% of the company's stock.

Wall Street Analyst Weigh In

UTHR has been the subject of several recent analyst reports. HC Wainwright upped their target price on United Therapeutics from $600.00 to $660.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. Morgan Stanley set a $516.00 price objective on United Therapeutics in a research report on Thursday, May 7th. Bank of America cut 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. Royal Bank Of Canada boosted their target price on shares of United Therapeutics from $701.00 to $704.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company raised shares of United Therapeutics from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $575.00 to $735.00 in a research report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $648.33.

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.

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