State Street Corp Sells 56,009 Shares of United Therapeutics Co. (NASDAQ:UTHR)

State Street Corp trimmed its holdings in shares of United Therapeutics Co. (NASDAQ:UTHR) by 2.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,238,224 shares of the biotechnology company’s stock after selling 56,009 shares during the period. State Street Corp owned about 0.05% of United Therapeutics worth $802,068,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tri Locum Partners LP bought a new position in shares of United Therapeutics in the 2nd quarter valued at approximately $15,959,000. Renaissance Technologies LLC grew its holdings in United Therapeutics by 1.1% during the second quarter. Renaissance Technologies LLC now owns 2,174,692 shares of the biotechnology company’s stock valued at $692,748,000 after purchasing an additional 22,978 shares during the last quarter. Bridgewater Associates LP raised its position in shares of United Therapeutics by 384.3% in the third quarter. Bridgewater Associates LP now owns 61,755 shares of the biotechnology company’s stock valued at $22,130,000 after purchasing an additional 49,003 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of United Therapeutics by 90.4% in the third quarter. Vontobel Holding Ltd. now owns 1,664 shares of the biotechnology company’s stock worth $596,000 after buying an additional 790 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of United Therapeutics by 6.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 68,605 shares of the biotechnology company’s stock worth $24,585,000 after buying an additional 4,145 shares during the period. 94.08% of the stock is currently owned by institutional investors.

United Therapeutics Stock Performance

NASDAQ:UTHR opened at $369.67 on Friday. The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.09 and a beta of 0.54. The company has a 50-day moving average of $369.14 and a 200-day moving average of $339.06. United Therapeutics Co. has a 52 week low of $208.62 and a 52 week high of $417.82.

United Therapeutics (NASDAQ:UTHR) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $6.39 earnings per share for the quarter, beating analysts’ consensus estimates of $6.16 by $0.23. The company had revenue of $748.90 million for the quarter, compared to the consensus estimate of $722.62 million. United Therapeutics had a return on equity of 19.22% and a net margin of 40.31%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned $5.38 earnings per share. Sell-side analysts forecast that United Therapeutics Co. will post 25.22 EPS for the current year.

Insiders Place Their Bets

In related news, CFO James Edgemond sold 7,802 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $345.41, for a total transaction of $2,694,888.82. Following the completion of the sale, the chief financial officer now directly owns 3,210 shares of the company’s stock, valued at $1,108,766.10. This trade represents a 70.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul A. Mahon sold 7,700 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $367.36, for a total value of $2,828,672.00. Following the completion of the transaction, the executive vice president now directly owns 36,710 shares in the company, valued at approximately $13,485,785.60. This represents a 17.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,142 shares of company stock worth $47,460,419 over the last three months. 11.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on UTHR. Oppenheimer lifted their target price on shares of United Therapeutics from $575.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. LADENBURG THALM/SH SH lifted their price objective on United Therapeutics from $319.00 to $344.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on United Therapeutics from $243.00 to $302.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on United Therapeutics from $350.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, TD Cowen upped their price target on United Therapeutics from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, United Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $370.86.

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.