Martine A. Rothblatt, who serves as Chairperson and Chief Executive Officer of United Therapeutics Corp (NASDAQ:UTHR), reported a significant transaction involving the sale of common stock on May 19, 2026.
The filing with the Securities and Exchange Commission detailed that Ms. Rothblatt disposed of a total of 9,500 shares of United Therapeutics common stock. These sales were executed at various prices, ranging from $561.02 to $572.45 per share, ultimately generating total proceeds amounting to $5,395,398.
These selling transactions followed the exercise of stock options and were managed under a pre-arranged 10b5-1 trading plan. The context for this activity is notable given that UTHR shares are currently trading at $563.93, representing an increase of 83% over the last year and approaching their five 2-week high of $609.35.
On the same day as the sales, Ms. Rothblatt also acquired 9,500 shares of common stock through the exercise of existing stock options. These newly acquired shares were purchased at an exercise price of $146.03 per share, totaling a value of $1,387,285. The underlying options had an original exercise date set for March 15, 2020, and are slated to expire on March 15, 2027.
The combination of exercising stock options and subsequently selling shares was structured as part of a pre-existing 10b5-1 trading plan. Ms. Rothblatt adopted this specific plan on November 7, 2025. The current parameters of the plan dictate that it will remain active until the earlier occurrence of two conditions: either the exercise of 1,734,410 stock options (all set to expire on March 17, 2027) or December 31, 2026.
Beyond the executive transactions, United Therapeutics Corporation provided several corporate updates. The company recently disclosed its first-quarter earnings report. According to these figures, UTHR reported a revenue of $781.5 million for the quarter. This figure fell below the consensus estimate provided by analysts, which anticipated $797.4 million.
Specifically concerning its core product, Tyvaso, the company generated revenues totaling $457.5 million. This amount also missed the expected revenue target of $478.6 million. Furthermore, net income for the quarter was reported at $274.9 million, which underperformed the projected figure of $320.5 million.
The earnings per share (EPS) reached $5.82. This value failed to meet the forecasted expectation of $6.99, resulting in a negative surprise margin of 16.74% for the period.
Despite the mixed financial results, UTHR announced positive clinical and strategic developments. The company reported that its TETON-1 phase 3 study involving Tyvaso for idiopathic pulmonary fibrosis met its primary endpoint, demonstrating significant preservation of lung function in patients studied.
In terms of collaborative efforts, United Therapeutics has entered into a partnership with Varda Space Industries. This collaboration aims to explore the use of microgravity-based pharmaceutical processing techniques. The focus of this initiative is on developing treatments designed for rare pulmonary diseases and will involve multiple planned missions to low Earth orbit to enhance the properties of therapeutic compounds.
From an investment perspective, BTIG reiterated a Neutral rating on United Therapeutics’ stock following the company's earnings miss. Additionally, analyses suggest that management has been actively engaged in buying back shares. InvestingPro notes that Ms. Rothblatt currently holds 40,513 shares of United Therapeutics common stock directly, and she maintains additional holdings indirectly through various family trusts and her spouse.
The analysis also points out that the stock currently appears overvalued relative to its Fair Value, according to InvestingPro's assessment.