PNC Financial Services Group Inc. Has $1.14 Million Stake in United Therapeutics Co. (NASDAQ:UTHR)

PNC Financial Services Group Inc. lifted its position in shares of United Therapeutics Co. (NASDAQ:UTHR) by 14.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,179 shares of the biotechnology company’s stock after buying an additional 412 shares during the period. PNC Financial Services Group Inc.’s holdings in United Therapeutics were worth $1,139,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of UTHR. Tri Locum Partners LP acquired a new position in United Therapeutics during the 2nd quarter worth approximately $15,959,000. QRG Capital Management Inc. boosted its holdings in United Therapeutics by 12.4% during the second quarter. QRG Capital Management Inc. now owns 15,321 shares of the biotechnology company’s stock worth $4,880,000 after purchasing an additional 1,692 shares during the last quarter. Renaissance Technologies LLC grew its position in United Therapeutics by 1.1% in the second quarter. Renaissance Technologies LLC now owns 2,174,692 shares of the biotechnology company’s stock valued at $692,748,000 after purchasing an additional 22,978 shares in the last quarter. Vontobel Holding Ltd. increased its stake in United Therapeutics by 90.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,664 shares of the biotechnology company’s stock valued at $596,000 after buying an additional 790 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in United Therapeutics during the 1st quarter worth about $475,000. 94.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO James Edgemond sold 7,802 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $345.41, for a total value of $2,694,888.82. Following the transaction, the chief financial officer now owns 3,210 shares in the company, valued at approximately $1,108,766.10. This trade represents a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul A. Mahon sold 7,700 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $367.36, for a total transaction of $2,828,672.00. Following the sale, the executive vice president now directly owns 36,710 shares of the company’s stock, valued at $13,485,785.60. This represents a 17.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,227 shares of company stock worth $47,398,820 in the last quarter. Corporate insiders own 11.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UTHR shares. TD Cowen raised their price objective on United Therapeutics from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group boosted their price target on United Therapeutics from $315.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Argus increased their price objective on United Therapeutics from $360.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of United Therapeutics from $350.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, HC Wainwright increased their price target on shares of United Therapeutics from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $370.86.

United Therapeutics Trading Up 0.3 %

NASDAQ:UTHR opened at $378.13 on Thursday. The stock has a 50 day simple moving average of $366.18 and a 200 day simple moving average of $333.84. United Therapeutics Co. has a 1-year low of $208.62 and a 1-year high of $417.82. The stock has a market cap of $16.88 billion, a P/E ratio of 16.61, a PEG ratio of 1.07 and a beta of 0.56.

United Therapeutics (NASDAQ:UTHR) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.16 by $0.23. United Therapeutics had a net margin of 40.31% and a return on equity of 19.22%. The company had revenue of $748.90 million during the quarter, compared to analysts’ expectations of $722.62 million. During the same quarter in the previous year, the business posted $5.38 earnings per share. United Therapeutics’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts forecast that United Therapeutics Co. will post 25.22 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.