The Manufacturers Life Insurance Company Sells 51,556 Shares of United Therapeutics Corporation $UTHR

Key Points

• The Manufacturers Life Insurance Company reduced its stake in United Therapeutics Corporation by 41.8%, owning 71,761 shares worth approximately $22.12 million as of its latest filing.
• Various institutional investors have changed their positions in United Therapeutics, with 94.08% of the stock now owned by institutional investors and hedge funds.
• Analysts have set new price targets for United Therapeutics, with estimates ranging from $328 to $564, reflecting a generally positive outlook with an average target price of $403.54.

The Manufacturers Life Insurance Company lessened its stake in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 41.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,761 shares of the biotechnology company's stock after selling 51,556 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.16% of United Therapeutics worth $22,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hohimer Wealth Management LLC increased its holdings in shares of United Therapeutics by 0.3% in the first quarter. Hohimer Wealth Management LLC now owns 12,651 shares of the biotechnology company's stock worth $3,900,000 after acquiring an additional 37 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of United Therapeutics by 3.7% in the first quarter. Applied Finance Capital Management LLC now owns 1,132 shares of the biotechnology company's stock worth $349,000 after acquiring an additional 40 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of United Therapeutics by 1.5% in the first quarter. Headlands Technologies LLC now owns 2,687 shares of the biotechnology company's stock worth $828,000 after acquiring an additional 40 shares in the last quarter. Cadence Bank increased its holdings in shares of United Therapeutics by 1.2% in the first quarter. Cadence Bank now owns 3,963 shares of the biotechnology company's stock worth $1,222,000 after acquiring an additional 47 shares in the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of United Therapeutics by 100.0% in the fourth quarter. Dunhill Financial LLC now owns 100 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 94.08% of the company's stock.

Insider Transactions at United Therapeutics

In other news, CFO James Edgemond sold 12,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $325.37, for a total transaction of $3,904,440.00. Following the transaction, the chief financial officer owned 8,118 shares in the company, valued at approximately $2,641,353.66. This trade represents a 59.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Benkowitz sold 22,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $417.64, for a total value of $9,396,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 118,181 shares of company stock worth $39,441,679 in the last ninety days. 10.30% of the stock is currently owned by company insiders.

United Therapeutics Trading Up 5.3%

Shares of UTHR traded up $20.05 during mid-day trading on Friday, reaching $400.52. The company's stock had a trading volume of 924,693 shares, compared to its average volume of 848,265. United Therapeutics Corporation has a 1-year low of $266.98 and a 1-year high of $436.95. The stock has a market cap of $18.07 billion, a P/E ratio of 15.63, a PEG ratio of 5.77 and a beta of 0.62. The business has a 50-day simple moving average of $307.69 and a two-hundred day simple moving average of $306.32.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The biotechnology company reported $6.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.80 by ($0.39). United Therapeutics had a net margin of 40.36% and a return on equity of 18.73%. The business had revenue of $798.60 million during the quarter, compared to analyst estimates of $802.13 million. During the same period in the previous year, the business earned $5.85 earnings per share. The business's quarterly revenue was up 11.7% on a year-over-year basis. Research analysts anticipate that United Therapeutics Corporation will post 24.48 EPS for the current year.

Wall Street Analysts Forecast Growth

UTHR has been the subject of several recent research reports. Bank of America upped their price objective on United Therapeutics from $314.00 to $463.00 and gave the stock a "neutral" rating in a research report on Tuesday. Oppenheimer increased their price target on United Therapeutics from $510.00 to $575.00 and gave the company an "outperform" rating in a research report on Friday. Morgan Stanley reduced their price target on United Therapeutics from $348.00 to $328.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. UBS Group increased their price target on United Therapeutics from $415.00 to $560.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of United Therapeutics in a research report on Thursday, August 14th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $429.62.

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.