Michael Benkowitz, President and COO of United Therapeutics Corp (NASDAQ:UTHR), executed a series of stock transactions on December 16, 2024, according to a recent filing. Benkowitz sold shares totaling approximately $3.7 million, with prices ranging from $363.25 to $372.60 per share. The transaction comes as United Therapeutics demonstrates strong financial performance, with InvestingPro data showing impressive gross profit margins of 89% and a remarkable 70% year-to-date stock price gain.
In addition to these sales, Benkowitz exercised stock options to acquire shares at $111.00 each. The exercised options amounted to $1.11 million worth of stock. These transactions were conducted under a pre-established trading plan, as indicated in the filing. According to InvestingPro analysis, the company currently appears fairly valued, with management actively engaging in share buybacks. InvestingPro subscribers have access to 12 additional key insights about UTHR's financial health and market position.
Following the transactions, Benkowitz's holdings in the company have been adjusted, with the shares sold being part of a trust beneficially owned by him. The company maintains excellent financial health with an impressive Altman Z-Score of 12.71, indicating strong financial stability.
In other recent news, United Therapeutics Corporation has experienced significant developments. The company has successfully transplanted a gene-edited pig kidney, named UKidney, into a human patient. This major breakthrough in xenotransplantation research could potentially address the shortage of transplantable organs for patients with end-stage organ disease.
United Therapeutics reported robust third-quarter financial results, with revenues reaching $748.9 million, driven primarily by the strong performance of treprostinil-based products such as Tyvaso. The company also completed a $1 billion accelerated share repurchase program. Analysts from H.C. Wainwright reaffirmed a Buy rating on the company, citing strategic positioning and proactive measures, and increased the price target to $425.
Ladenburg Thalmann, however, maintained a Neutral rating but raised the price target to $344. The company is also anticipating future clinical milestones, including the TETON 2 study results, and is awaiting a potential FDA decision on its Centralized Lung Evaluation System in 2025. These recent developments highlight United Therapeutics' strategic focus on expanding commercial ventures and research and development.
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