Summit Global Investments Has $17.92 Million Stock Position in United Therapeutics Co. (NASDAQ:UTHR)

Summit Global Investments lowered its stake in shares of United Therapeutics Co. (NASDAQ:UTHR) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,999 shares of the biotechnology company’s stock after selling 3,672 shares during the quarter. United Therapeutics makes up approximately 1.1% of Summit Global Investments’ holdings, making the stock its 13th biggest holding. Summit Global Investments’ holdings in United Therapeutics were worth $17,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of United Therapeutics by 176.2% during the first quarter. SG Americas Securities LLC now owns 14,315 shares of the biotechnology company’s stock worth $3,288,000 after acquiring an additional 9,133 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in United Therapeutics by 19.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,686 shares of the biotechnology company’s stock valued at $5,901,000 after purchasing an additional 4,100 shares during the period. Comerica Bank lifted its position in United Therapeutics by 5.9% during the 1st quarter. Comerica Bank now owns 165,911 shares of the biotechnology company’s stock valued at $38,113,000 after purchasing an additional 9,244 shares during the period. Tri Locum Partners LP bought a new position in shares of United Therapeutics in the 2nd quarter valued at about $15,959,000. Finally, QRG Capital Management Inc. grew its position in shares of United Therapeutics by 12.4% during the 2nd quarter. QRG Capital Management Inc. now owns 15,321 shares of the biotechnology company’s stock worth $4,880,000 after buying an additional 1,692 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 United Therapeutics news, COO Michael Benkowitz sold 14,700 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $374.46, for a total value of $5,504,562.00. Following the completion of the transaction, the chief operating officer now directly owns 2,577 shares in the company, valued at $964,983.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Michael Benkowitz sold 14,700 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $374.46, for a total value of $5,504,562.00. Following the completion of the sale, the chief operating officer now directly owns 2,577 shares of the company’s stock, valued at $964,983.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher Causey sold 510 shares of the firm’s stock in a transaction that occurred on 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 directly owns 3,675 shares of the company’s stock, valued at approximately $1,384,115.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,422 shares of company stock worth $29,229,828 over the last ninety days. 11.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD Cowen raised their price objective on shares of United Therapeutics from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Morgan Stanley lowered United Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $310.00 to $321.00 in a research report on Thursday, July 11th. HC Wainwright boosted their target price on United Therapeutics from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Argus boosted their target price on United Therapeutics from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on United Therapeutics from $243.00 to $302.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $370.86.

United Therapeutics Trading Up 1.3 %

Shares of UTHR stock opened at $402.57 on Friday. The firm’s fifty day moving average price is $358.27 and its two-hundred day moving average price is $320.94. United Therapeutics Co. has a 1 year low of $208.62 and a 1 year high of $405.98. The firm has a market capitalization of $17.97 billion, a P/E ratio of 17.68, a PEG ratio of 1.16 and a beta of 0.56.

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

United Therapeutics Company Profile

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.