Bank of New York Mellon Corp Sells 11,016 Shares of United Therapeutics Corporation $UTHR

Bank of New York Mellon Corp reduced its holdings in United Therapeutics Corporation (NASDAQ:UTHR) by 3.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 351,455 shares of the biotechnology company’s stock after selling 11,016 shares during the quarter. Bank of New York Mellon Corp’s holdings in United Therapeutics were worth $147,333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB raised its position in shares of United Therapeutics by 125.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 88 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 49 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of United Therapeutics during the second quarter worth $29,000. WealthCollab LLC increased its holdings in United Therapeutics by 55.9% in the second quarter. WealthCollab LLC now owns 106 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 38 shares during the last quarter. Rakuten Securities Inc. lifted its stake in United Therapeutics by 76.7% in the second quarter. Rakuten Securities Inc. now owns 106 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 46 shares during the period. Finally, True Wealth Design LLC boosted its holdings in United Therapeutics by 738.5% during the third quarter. True Wealth Design LLC now owns 109 shares of the biotechnology company’s stock worth $46,000 after buying an additional 96 shares during the last quarter. 94.08% of the stock is owned by institutional investors.

United Therapeutics Trading Up 0.4%

UTHR opened at $469.49 on Friday. The stock has a market capitalization of $20.22 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.49 and a beta of 0.84. United Therapeutics Corporation has a 12 month low of $266.98 and a 12 month high of $519.99. The firm’s fifty day simple moving average is $487.26 and its 200 day simple moving average is $421.02.

United Therapeutics (NASDAQ:UTHR) last released its quarterly earnings results on Wednesday, October 29th. The biotechnology company reported $7.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $0.27. The firm had revenue of $799.50 million for the quarter, compared to the consensus estimate of $812.87 million. United Therapeutics had a return on equity of 18.83% and a net margin of 40.65%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $6.39 EPS. On average, equities research analysts predict that United Therapeutics Corporation will post 24.48 EPS for the current fiscal year.

Analyst Ratings Changes

UTHR has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of United Therapeutics in a research report on Monday, December 29th. Royal Bank Of Canada boosted their price objective on shares of United Therapeutics from $569.00 to $587.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Morgan Stanley set a $447.00 target price on shares of United Therapeutics in a research note on Wednesday, October 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $575.00 target price on shares of United Therapeutics in a report on Wednesday, November 19th. Finally, Wells Fargo & Company boosted their price target on shares of United Therapeutics from $414.00 to $423.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $509.50.

Insider Activity

In related news, COO Michael Benkowitz sold 22,500 shares of United Therapeutics stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $429.25, for a total value of $9,658,125.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 566,864 shares of company stock worth $269,514,607 in the last ninety days. 10.30% of the stock is currently owned by company insiders.

United Therapeutics Profile

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.