United Therapeutics Chairman Michael Benkowitz is selling $3.57M worth of shares to Investing.com
Michael Benkowitz, the company’s president and chief operating officer United Therapeutics Corp (NASDAQ: ), recently sold approximately $3.57 million worth of stock, according to its most recent filing with the SEC. The company has shown strong financial results, with impressive gross profit margins of 89% and a strong stock return of 63% year-to-date. The transactions included multiple sales on December 30, 2024, with prices ranging from $355.46 to $358.18 per share. This sale was part of a prearranged trading plan under Rule 10b5-1. Following these transactions, Benkowitz’s direct holdings in the company, through the trust, were adjusted accordingly. The sale was made as part of a strategic financial plan, reflecting the officer’s ongoing management of his investment in United Therapeutics. Namely, while this insider sale took place, the management was actively buying back shares, and according to InvestingProthe 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 reported a significant development. The company revealed record third-quarter revenue of $749 million, a 23% year-over-year increase. This growth was largely driven by strong results from key products such as Tyvaso, which beat Ladenburg Thalmann and consensus estimates, reaching total sales of $433.8 million.
United Therapeutics also announced the successful transplant of a genetically engineered pig kidney, marking the company’s first such transplant into a living person. This revolutionary procedure adds to the evidence supporting xenotransplantation as a viable solution to organ shortage. The company is preparing a new investigational drug application for UKidney, with plans to launch a human clinical study in 2025, pending FDA approval.
In analyst notes, HC 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 its price target to $344 from $319 previously. These recent developments underscore United Therapeutics’ strategic focus on expanding commercial ventures and research and development.
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