Bowen Hanes & Co. Inc. Invests $50.40 Million in United Therapeutics Corporation $UTHR

Bowen Hanes & Co. Inc. purchased a new position in shares of United Therapeutics Corporation (NASDAQ:UTHR) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 85,000 shares of the biotechnology company’s stock, valued at approximately $50,403,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avoro Capital Advisors LLC boosted its stake in United Therapeutics by 17.3% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,606,060 shares of the biotechnology company’s stock worth $1,269,803,000 after buying an additional 383,838 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of United Therapeutics by 74.5% in the 4th quarter. Wellington Management Group LLP now owns 2,441,492 shares of the biotechnology company’s stock worth $1,189,617,000 after acquiring an additional 1,042,711 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of United Therapeutics by 29.9% in the 4th quarter. AQR Capital Management LLC now owns 1,281,699 shares of the biotechnology company’s stock worth $624,508,000 after acquiring an additional 295,221 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of United Therapeutics by 75.1% in the 4th quarter. Janus Henderson Group PLC now owns 796,101 shares of the biotechnology company’s stock valued at $387,801,000 after purchasing an additional 341,383 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of United Therapeutics in the 4th quarter valued at $293,418,000. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at United Therapeutics

In other news, EVP Paul A. Mahon sold 8,300 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $552.56, for a total transaction of $4,586,248.00. Following the completion of the transaction, the executive vice president directly owned 45,172 shares of the company’s stock, valued at $24,960,240.32. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jan Malcolm sold 325 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $550.59, for a total value of $178,941.75. Following the transaction, the director directly owned 450 shares in the company, valued at $247,765.50. The trade was a 41.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 513,333 shares of company stock valued at $286,933,042 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

United Therapeutics Price Performance

UTHR stock opened at $529.53 on Friday. United Therapeutics Corporation has a 1 year low of $272.12 and a 1 year high of $609.35. The firm has a 50-day moving average of $548.68 and a 200 day moving average of $531.41. The company has a market cap of $22.48 billion, a P/E ratio of 19.55, a PEG ratio of 1.76 and a beta of 0.58.

United Therapeutics (NASDAQ:UTHR) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $5.82 EPS for the quarter, missing analysts’ consensus estimates of $7.00 by ($1.18). United Therapeutics had a net margin of 40.62% and a return on equity of 19.24%. The business 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 firm posted $6.63 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts expect that United Therapeutics Corporation will post 26.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

UTHR has been the topic of a number of recent research reports. HC Wainwright raised their price objective on United Therapeutics from $600.00 to $660.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Weiss Ratings reissued a “buy (b)” rating on shares of United Therapeutics in a research note on Thursday, June 11th. TD Cowen restated a “buy” rating on shares of United Therapeutics in a research report on Thursday, May 21st. Royal Bank Of Canada lifted their price target on United Therapeutics from $701.00 to $704.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company upgraded United Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $575.00 to $735.00 in a research report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $648.33.

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.