Wedge Capital Management L L P NC Has $29.57 Million Stock Position in United Therapeutics Corporation $UTHR

Wedge Capital Management L L P NC reduced its stake in United Therapeutics Corporation (NASDAQ:UTHR) by 8.8% during the 4th quarter, Holdings Channel reports. The fund owned 60,687 shares of the biotechnology company’s stock after selling 5,865 shares during the period. Wedge Capital Management L L P NC’s holdings in United Therapeutics were worth $29,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Darwin Global Management Ltd. acquired a new position in shares of United Therapeutics in the third quarter valued at approximately $317,617,000. Norges Bank acquired a new stake in United Therapeutics during the 2nd quarter worth approximately $136,453,000. Invesco Ltd. boosted its stake in United Therapeutics by 90.2% in the 2nd quarter. Invesco Ltd. now owns 884,703 shares of the biotechnology company’s stock valued at $254,219,000 after purchasing an additional 419,588 shares during the period. AQR Capital Management LLC grew its holdings in United Therapeutics by 40.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,273,161 shares of the biotechnology company’s stock valued at $362,876,000 after buying an additional 364,713 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in United Therapeutics by 863.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 152,727 shares of the biotechnology company’s stock valued at $43,886,000 after buying an additional 136,883 shares in the last quarter. 94.08% of the stock is currently owned by institutional investors and hedge funds.

United Therapeutics Stock Down 1.8%

UTHR stock opened at $522.83 on Friday. United Therapeutics Corporation has a 52 week low of $266.98 and a 52 week high of $549.50. The business has a 50-day simple moving average of $495.95 and a 200 day simple moving average of $472.65. The company has a market cap of $22.92 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84.

United Therapeutics (NASDAQ:UTHR) last announced its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported $7.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.78 by $0.92. United Therapeutics had a net margin of 41.94% and a return on equity of 19.30%. The firm had revenue of $790.20 million for the quarter, compared to the consensus estimate of $814.80 million. During the same period in the prior year, the company posted $6.19 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts anticipate that United Therapeutics Corporation will post 24.48 EPS for the current fiscal year.

Insider Buying and Selling

In other United Therapeutics news, EVP Paul A. Mahon sold 8,300 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $529.95, for a total transaction of $4,398,585.00. Following the completion of the sale, the executive vice president directly owned 45,172 shares in the company, valued at $23,938,901.40. This represents 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, CFO James Edgemond sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $535.90, for a total value of $5,359,000.00. Following the completion of the sale, the chief financial officer directly owned 18,876 shares in the company, valued at approximately $10,115,648.40. This represents a 34.63% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 356,320 shares of company stock worth $176,808,253. Corporate insiders own 10.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on UTHR shares. Cantor Fitzgerald lifted their target price on United Therapeutics from $525.00 to $625.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. HC Wainwright raised their price target on shares of United Therapeutics from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Bank of America reiterated a “neutral” rating on shares of United Therapeutics in a research note on Wednesday, February 25th. UBS Group boosted their price objective on shares of United Therapeutics from $655.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group restated a “buy” rating on shares of United Therapeutics in a research report on Monday, March 2nd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, United Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $549.91.

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.