United Therapeutics Corporation $UTHR Shares Sold by Assetmark Inc.

Key Points

• Assetmark Inc. cut its United Therapeutics stake by 3.0% in the first quarter, selling 18,906 shares and leaving it with 616,050 shares worth about $365.3 million.
• United Therapeutics reported Q1 earnings of $5.82 per share, missing analyst expectations of $7.00, while revenue came in at $781.5 million, slightly below estimates and down 1.6% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $644.82, despite some mixed target revisions. In insider activity, CFO James Edgemond sold 10,000 shares in April.

Assetmark Inc. trimmed its holdings in shares of United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 616,050 shares of the biotechnology company's stock after selling 18,906 shares during the quarter. United Therapeutics accounts for about 0.7% of Assetmark Inc.'s investment portfolio, making the stock its 28th biggest position. Assetmark Inc. owned approximately 1.46% of United Therapeutics worth $365,305,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in United Therapeutics by 141.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 145 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 85 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in United Therapeutics by 18.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 443 shares of the biotechnology company's stock worth $127,000 after purchasing an additional 70 shares in the last quarter. Jump Financial LLC bought a new stake in United Therapeutics in the second quarter valued at about $277,000. Cerity Partners LLC increased its holdings in United Therapeutics by 77.3% in the second quarter. Cerity Partners LLC now owns 12,843 shares of the biotechnology company's stock valued at $3,691,000 after buying an additional 5,600 shares during the last quarter. Finally, Bank of Nova Scotia raised its stake in United Therapeutics by 6.9% during the second quarter. Bank of Nova Scotia now owns 1,628 shares of the biotechnology company's stock valued at $468,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 94.08% of the company's stock.

United Therapeutics Trading Down 0.5%

Shares of NASDAQ UTHR opened at $529.05 on Friday. United Therapeutics Corporation has a 12-month low of $272.12 and a 12-month high of $609.35. The company has a market cap of $22.46 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. The stock's 50 day simple moving average is $552.97 and its 200 day simple moving average is $530.10.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $5.82 EPS for the quarter, missing analysts' consensus estimates of $7.00 by ($1.18). The company 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 quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.63 earnings per share. As a group, equities analysts forecast that United Therapeutics Corporation will post 26.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley set a $516.00 target price on United Therapeutics in a report on Thursday, May 7th. Bank of America lowered their price target on United Therapeutics from $620.00 to $613.00 and set a "neutral" rating for the company in a report on Friday, July 10th. TD Cowen reissued a "buy" rating on shares of United Therapeutics in a research report on Thursday, May 21st. Weiss Ratings restated a "buy (b)" rating on shares of United Therapeutics in a research note on Thursday, June 11th. Finally, Wells Fargo & Company raised shares of United Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $575.00 to $735.00 in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, United Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $644.82.

Insider Transactions at United Therapeutics

In other United Therapeutics news, CFO James Edgemond sold 10,000 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $572.61, for a total value of $5,726,100.00. Following the completion of the transaction, the chief financial officer owned 18,876 shares in the company, valued at approximately $10,808,586.36. This represents a 34.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 564,743 shares of company stock worth $316,423,257. Insiders own 8.60% of the company's stock.

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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