Michael Benkowitz, President and COO of United Therapeutics Corp (NASDAQ:UTHR), recently sold shares worth approximately $3.57 million, according to a recent SEC filing. The company has demonstrated strong financial performance, with impressive gross profit margins of 89% and a robust 63% stock return year-to-date. The transactions involved multiple sales on December 30, 2024, with prices ranging from $355.46 to $358.18 per share. This sale was part of a pre-arranged trading plan under Rule 10b5-1. Following these transactions, Benkowitz's direct holdings in the company, through a trust, have been adjusted accordingly. The sales were executed as part of a strategic financial plan, reflecting the officer's ongoing management of his investment in United Therapeutics. Notably, while this insider sale occurred, management has been actively buying back shares, and according to InvestingPro, the company maintains a strong balance sheet with more cash than debt and trades at an attractive P/E ratio of 14.6x.
In other recent news, United Therapeutics Corporation has reported significant developments. The company revealed a record-breaking third-quarter revenue of $749 million, a 23% increase from the same period in the previous year. This growth was largely driven by the strong performance of key products such as Tyvaso, which surpassed Ladenburg Thalmann's and consensus estimates, reaching total sales of $433.8 million.
United Therapeutics also announced the successful transplantation of a gene-edited pig kidney, marking the company's first such transplant into a living person. This groundbreaking procedure adds to the evidence supporting xenotransplantation as a viable solution to organ shortages. The company is preparing an investigational new drug application for the UKidney, with plans to initiate a human clinical study in 2025, pending FDA clearance.
In terms of analyst notes, H.C. Wainwright reaffirmed a Buy rating on United Therapeutics and increased the price target to $425 from the previous $400, citing strategic positioning and proactive measures. Conversely, Ladenburg Thalmann maintained a Neutral rating but raised the price target to $344 from the previous $319. These recent developments underscore United Therapeutics' strategic focus on expanding commercial ventures and research and development.
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