Allspring Global Investments Holdings LLC Grows Stock Holdings in United Therapeutics Corporation $UTHR

Allspring Global Investments Holdings LLC boosted its stake in shares of United Therapeutics Corporation (NASDAQ:UTHR) by 39.8% in the first quarter, Holdings Channel reports. The fund owned 146,524 shares of the biotechnology company’s stock after purchasing an additional 41,739 shares during the period. Allspring Global Investments Holdings LLC’s holdings in United Therapeutics were worth $83,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of UTHR. Geneos Wealth Management Inc. boosted its holdings in shares of United Therapeutics by 141.7% in the first 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of United Therapeutics by 18.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 443 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 70 shares in the last quarter. Jump Financial LLC acquired a new stake in United Therapeutics in the second quarter valued at $277,000. Cerity Partners LLC boosted its position in shares of United Therapeutics by 77.3% during the 2nd quarter. Cerity Partners LLC now owns 12,843 shares of the biotechnology company’s stock worth $3,691,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of United Therapeutics by 6.9% during the 2nd quarter. Bank of Nova Scotia now owns 1,628 shares of the biotechnology company’s stock worth $468,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 94.08% of the company’s stock.

Insider Buying and Selling at United Therapeutics

In other news, CFO James Edgemond sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $572.61, for a total value of $5,726,100.00. Following the completion of the sale, the chief financial officer directly owned 18,876 shares of the company’s stock, valued at $10,808,586.36. This represents a 34.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 564,743 shares of company stock valued at $316,423,257. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

UTHR has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of United Therapeutics in a research report on Thursday, June 11th. Morgan Stanley set a $516.00 price target on shares of United Therapeutics in a report on Thursday, May 7th. HC Wainwright upped their price objective on shares of United Therapeutics from $600.00 to $660.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Bank of America decreased their target price on shares of United Therapeutics from $620.00 to $613.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Finally, Wells Fargo & Company raised shares of United Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $575.00 to $735.00 in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $644.82.

United Therapeutics Stock Up 1.3%

NASDAQ:UTHR opened at $535.67 on Friday. The firm has a market capitalization of $22.74 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. United Therapeutics Corporation has a 1-year low of $272.12 and a 1-year high of $609.35. The stock has a fifty day simple moving average of $552.38 and a 200 day simple moving average of $530.14.

United Therapeutics (NASDAQ:UTHR) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $5.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.00 by ($1.18). United Therapeutics had a return on equity of 19.24% and a net margin of 40.62%.The company had revenue of $781.50 million for the quarter, compared to the consensus estimate of $797.40 million. During the same quarter last year, the company posted $6.63 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that United Therapeutics Corporation will post 26.63 earnings per share for the current year.

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.