Michael Benkowitz, President and COO of United Therapeutics Corp (NASDAQ:UTHR), sold shares worth approximately $3.45 million on December 9, according to a recent SEC filing. The sales involved multiple transactions with prices ranging from $364.87 to $372.39 per share. The stock, which has gained nearly 67% year-to-date, is currently trading close to its InvestingPro Fair Value, suggesting balanced market pricing.
In addition to the sales, Benkowitz exercised stock options to acquire shares at prices between $102.11 and $111.00 per share. The total value of these acquisitions amounted to around $1.07 million. According to InvestingPro data, the company maintains excellent financial health with an impressive 89% gross profit margin, while management has been actively buying back shares.
These transactions were executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell company stock in order to avoid concerns about insider trading. The shares were held in a trust beneficially owned by Benkowitz, where he and his spouse are co-trustees. Trading at a P/E ratio of 14.9, United Therapeutics shows strong fundamentals with 14 additional key insights available on InvestingPro's comprehensive research platform.
In other recent news, United Therapeutics Corporation has reported significant growth in its third-quarter revenue for 2024, with total revenues reaching $748.9 million. This increase was primarily driven by the sales of treprostinil-based products, such as Tyvaso, which exceeded expectations with total sales amounting to $433.8 million. However, Remodulin sales fell short of projections, reaching $128.3 million.
The company also completed a $1 billion accelerated share repurchase program, demonstrating its focus on expanding commercial ventures and research and development. Analyst firm Ladenburg Thalmann maintained a Neutral rating on the company's stock, while H.C. Wainwright reaffirmed a Buy rating and raised the price target to $425. Both firms cited the company's strategic positioning and the strength of Tyvaso sales.
United Therapeutics is also eyeing upcoming clinical milestones, including the TETON 2 study results, and is awaiting a potential FDA decision on its Centralized Lung Evaluation System in 2025. Despite a slight decrease in worldwide revenue for Remodulin, the company aims to reach a revenue of $4 billion to $6 billion by leveraging its product portfolio and upcoming offerings. These developments highlight the company's commitment to continued growth and strategic focus.
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