Summit Global Investments Sells 22,023 Shares of United Therapeutics Co. (NASDAQ:UTHR)

Summit Global Investments lessened its holdings in shares of United Therapeutics Co. (NASDAQ:UTHR - Free Report) by 61.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,058 shares of the biotechnology company's stock after selling 22,023 shares during the period. Summit Global Investments' holdings in United Therapeutics were worth $4,334,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of United Therapeutics during the 4th quarter valued at about $25,000. Dunhill Financial LLC grew its position in United Therapeutics by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 100 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 50 shares during the last quarter. State of Wyoming bought a new position in United Therapeutics in the 4th quarter worth about $62,000. Millstone Evans Group LLC bought a new position in United Therapeutics in the 4th quarter worth about $67,000. Finally, Natixis bought a new position in United Therapeutics in the 4th quarter worth about $85,000. Institutional investors own 94.08% of the company's stock.

Insider Activity

In other news, Director Tommy G. Thompson sold 2,500 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $318.80, for a total transaction of $797,000.00. Following the completion of the sale, the director now owns 8,480 shares in the company, valued at approximately $2,703,424. This represents a 22.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul A. Mahon sold 11,000 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $316.07, for a total transaction of $3,476,770.00. Following the completion of the transaction, the executive vice president now directly owns 36,781 shares in the company, valued at $11,625,370.67. This trade represents a 23.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,500 shares of company stock worth $16,923,950. Insiders own 10.30% of the company's stock.

United Therapeutics Stock Performance

Shares of NASDAQ:UTHR traded down $4.03 during trading on Friday, reaching $316.34. The company had a trading volume of 886,326 shares, compared to its average volume of 440,593. The firm's fifty day moving average is $299.49 and its 200 day moving average is $334.86. The firm has a market capitalization of $14.27 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.97 and a beta of 0.58. United Therapeutics Co. has a twelve month low of $266.98 and a twelve month high of $417.82.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last released its earnings results on Wednesday, April 30th. The biotechnology company reported $6.63 EPS for the quarter, beating the consensus estimate of $6.29 by $0.34. The business had revenue of $794.40 million during the quarter, compared to analyst estimates of $726.82 million. United Therapeutics had a net margin of 40.31% and a return on equity of 19.22%. The business's quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $6.17 earnings per share. Equities analysts predict that United Therapeutics Co. will post 24.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HC Wainwright restated a "buy" rating and issued a $425.00 target price on shares of United Therapeutics in a research report on Monday, May 5th. Morgan Stanley upped their target price on shares of United Therapeutics from $346.00 to $348.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Wells Fargo & Company restated an "equal weight" rating and issued a $314.00 target price (down previously from $395.00) on shares of United Therapeutics in a research report on Friday, April 25th. JPMorgan Chase & Co. decreased their target price on shares of United Therapeutics from $355.00 to $350.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen cut shares of United Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $392.00.

About United Therapeutics

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.