United Therapeutics Corporation $UTHR Stock Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its United Therapeutics stake by 70.1% in the third quarter, selling 67,795 shares and retaining 28,901 shares valued at about $16.5 million.
• Quarterly results were mixed: earnings per share of $5.71 missed the $6.01 consensus, while revenue of $832.5 million topped estimates and rose 4.1% year over year.
• The board authorized a $2 billion share repurchase program, allowing buybacks of up to 8.3% of outstanding shares. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $676.40.

Allspring Global Investments Holdings LLC lessened its holdings in United Therapeutics Corporation (NASDAQ:UTHR - Free Report) by 70.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,901 shares of the biotechnology company's stock after selling 67,795 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of United Therapeutics worth $16,513,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Arjuna Capital grew its holdings in United Therapeutics by 2.8% during the 1st quarter. Arjuna Capital now owns 662 shares of the biotechnology company's stock worth $393,000 after acquiring an additional 18 shares during the period. Abacus Wealth Partners LLC boosted its stake in shares of United Therapeutics by 5.6% during the 3rd quarter. Abacus Wealth Partners LLC now owns 396 shares of the biotechnology company's stock worth $215,000 after buying an additional 21 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of United Therapeutics by 2.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,154 shares of the biotechnology company's stock valued at $625,000 after buying an additional 24 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in shares of United Therapeutics by 4.1% in the first quarter. Meeder Advisory Services Inc. now owns 661 shares of the biotechnology company's stock valued at $392,000 after buying an additional 26 shares during the last quarter. Finally, Kera Capital Partners Inc. increased its holdings in shares of United Therapeutics by 6.1% in the first quarter. Kera Capital Partners Inc. now owns 471 shares of the biotechnology company's stock valued at $279,000 after purchasing an additional 27 shares during the last quarter. 94.08% of the stock is owned by institutional investors.

United Therapeutics Stock Down 0.4%

NASDAQ UTHR opened at $591.17 on Friday. United Therapeutics Corporation has a twelve month low of $455.63 and a twelve month high of $614.23. The firm has a market capitalization of $25.18 billion, a PE ratio of 22.31, a P/E/G ratio of 3.94 and a beta of 0.49. The stock's 50 day moving average is $542.60 and its 200 day moving average is $536.37.

United Therapeutics (NASDAQ:UTHR - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.01 by ($0.30). United Therapeutics had a net margin of 38.61% and a return on equity of 19.18%. The firm had revenue of $832.50 million for the quarter, compared to the consensus estimate of $781.14 million. During the same period in the previous year, the company earned $7.16 earnings per share. United Therapeutics's quarterly revenue was up 4.1% compared to the same quarter last year. On average, research analysts anticipate that United Therapeutics Corporation will post 25.08 earnings per share for the current year.

United Therapeutics announced that its Board of Directors has authorized a stock buyback program on Thursday, October 22nd that authorizes the company to buy back $2 billion in shares. This buyback authorization authorizes the biotechnology company to purchase up to 8.3% of its shares through open market purchases. Share buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at United Therapeutics

In related news, CEO Martine Rothblatt sold 9,500 shares of the business's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $511.09, for a total value of $4,855,355.00. Following the sale, the chief executive officer directly owned 324,443 shares in the company, valued at approximately $165,819,572.87. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 412,238 shares of company stock worth $220,975,006. 8.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on UTHR shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $850.00 price target on shares of United Therapeutics in a research note on Monday, October 26th. TD Cowen increased their target price on shares of United Therapeutics from $675.00 to $700.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Wells Fargo & Company boosted their price target on shares of United Therapeutics from $700.00 to $703.00 and gave the company an "overweight" rating in a research report on Thursday, November 5th. Leerink Partners upped their price target on shares of United Therapeutics from $685.00 to $725.00 and gave the company an "outperform" rating in a research note on Monday, October 19th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and issued a $368.00 price objective on shares of United Therapeutics in a report on Thursday, October 15th. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, United Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $676.40.

United Therapeutics Profile

United Therapeutics is a biotechnology company that develops and commercializes treatments for serious diseases, with a primary focus on pulmonary arterial hypertension (PAH). Its therapies include treprostinil products delivered by injection, inhalation, or oral tablet, marketed under brands including Remodulin, Tyvaso, and Orenitram. The company also markets Unituxin, a treatment for high-risk neuroblastoma. Founded in 1996 by Martine Rothblatt, United Therapeutics is also pursuing technologies intended to address the shortage of transplantable organs.

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