King Wealth Management Group Sells 500 Shares of United Therapeutics Co. (NASDAQ:UTHR)

King Wealth Management Group trimmed its position in shares of United Therapeutics Co. (NASDAQ:UTHR) by 25.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,500 shares of the biotechnology company’s stock after selling 500 shares during the quarter. King Wealth Management Group’s holdings in United Therapeutics were worth $538,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of UTHR. Renaissance Technologies LLC raised its position in United Therapeutics by 1.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,174,692 shares of the biotechnology company’s stock worth $692,748,000 after purchasing an additional 22,978 shares during the last quarter. LSV Asset Management raised its position in shares of United Therapeutics by 82.5% during the second quarter. LSV Asset Management now owns 966,370 shares of the biotechnology company’s stock worth $307,837,000 after acquiring an additional 436,851 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of United Therapeutics by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 585,969 shares of the biotechnology company’s stock worth $186,656,000 after acquiring an additional 22,683 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of United Therapeutics by 19.6% during the second quarter. Pacer Advisors Inc. now owns 561,834 shares of the biotechnology company’s stock valued at $178,972,000 after acquiring an additional 92,240 shares during the period. Finally, Swedbank AB bought a new position in United Therapeutics in the first quarter valued at about $97,316,000. Institutional investors and hedge funds own 94.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Argus raised their target price on shares of United Therapeutics from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. LADENBURG THALM/SH SH raised their price objective on shares of United Therapeutics from $319.00 to $344.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. TD Cowen upped their target price on shares of United Therapeutics from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, October 21st. HC Wainwright raised their price target on United Therapeutics from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Bank of America dropped their price objective on United Therapeutics from $303.00 to $280.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, United Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.86.

Insider Buying and Selling at United Therapeutics

In other United Therapeutics news, Director Christopher Causey sold 510 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $376.63, for a total value of $192,081.30. Following the completion of the sale, the director now owns 3,675 shares of the company’s stock, valued at $1,384,115.25. The trade was a 12.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Martine A. Rothblatt sold 3,600 shares of United Therapeutics stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $344.18, for a total transaction of $1,239,048.00. Following the completion of the sale, the chief executive officer now owns 130 shares of the company’s stock, valued at approximately $44,743.40. The trade was a 96.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,396 shares of company stock valued at $42,175,418 in the last quarter. 11.90% of the stock is currently owned by insiders.

United Therapeutics Price Performance

United Therapeutics stock opened at $386.27 on Friday. United Therapeutics Co. has a fifty-two week low of $208.62 and a fifty-two week high of $417.82. The firm has a market capitalization of $17.25 billion, a PE ratio of 16.96, a P/E/G ratio of 1.17 and a beta of 0.56. The company’s 50-day moving average is $362.57 and its 200-day moving average is $326.65.

United Therapeutics (NASDAQ:UTHR) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.16 by $0.23. United Therapeutics had a return on equity of 19.22% and a net margin of 40.31%. The firm had revenue of $748.90 million for the quarter, compared to analyst estimates of $722.62 million. During the same quarter in the prior year, the company earned $5.38 earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, analysts expect that United Therapeutics Co. will post 25.1 EPS for the current year.

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.