New York State Teachers Retirement System lowered its holdings in Vertex Pharmaceuticals (NASDAQ:VRTX) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 389,606 shares of the pharmaceutical company’s stock after selling 4,339 shares during the quarter. New York State Teachers Retirement System owned 0.15% of Vertex Pharmaceuticals worth $63,498,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Atria Investments LLC raised its stake in Vertex Pharmaceuticals by 7.9% during the fourth quarter. Atria Investments LLC now owns 4,765 shares of the pharmaceutical company’s stock worth $714,000 after purchasing an additional 350 shares during the period. Hanseatic Management Services Inc. increased its position in shares of Vertex Pharmaceuticals by 9.0% during the fourth quarter. Hanseatic Management Services Inc. now owns 5,092 shares of the pharmaceutical company’s stock valued at $763,000 after acquiring an additional 419 shares during the last quarter. Creative Planning increased its position in shares of Vertex Pharmaceuticals by 13.3% during the fourth quarter. Creative Planning now owns 4,363 shares of the pharmaceutical company’s stock valued at $654,000 after acquiring an additional 513 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Vertex Pharmaceuticals by 0.3% during the fourth quarter. Lazard Asset Management LLC now owns 173,986 shares of the pharmaceutical company’s stock valued at $26,073,000 after acquiring an additional 564 shares during the last quarter. Finally, DnB Asset Management AS increased its position in shares of Vertex Pharmaceuticals by 2.3% during the fourth quarter. DnB Asset Management AS now owns 26,280 shares of the pharmaceutical company’s stock valued at $3,938,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 95.31% of the company’s stock.
In related news, COO Ian F. Smith sold 217 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $155.78, for a total value of $33,804.26. Following the transaction, the chief operating officer now owns 46,699 shares of the company’s stock, valued at approximately $7,274,770.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amit Sachdev sold 13,750 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $175.00, for a total value of $2,406,250.00. Following the completion of the transaction, the executive vice president now directly owns 60,412 shares in the company, valued at approximately $10,572,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,907 shares of company stock worth $27,820,874. 1.80% of the stock is owned by corporate insiders.
VRTX has been the subject of a number of research reports. TheStreet upgraded shares of Vertex Pharmaceuticals from a “c+” rating to a “b-” rating in a report on Friday, March 2nd. Bank of America lifted their price target on shares of Vertex Pharmaceuticals from $180.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Citigroup restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. BMO Capital Markets boosted their price objective on shares of Vertex Pharmaceuticals from $184.00 to $191.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Jefferies Group reiterated a “buy” rating and issued a $195.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $184.54.
Shares of Vertex Pharmaceuticals opened at $156.34 on Friday, according to Marketbeat.com. The company has a current ratio of 3.68, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01. The firm has a market cap of $39.64 billion, a P/E ratio of 195.43, a PEG ratio of 1.90 and a beta of 1.44. Vertex Pharmaceuticals has a 12-month low of $154.48 and a 12-month high of $155.93.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, April 26th. The pharmaceutical company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.13. Vertex Pharmaceuticals had a return on equity of 15.28% and a net margin of 9.36%. The company had revenue of $641.00 million for the quarter, compared to analysts’ expectations of $626.05 million. During the same period last year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. analysts predict that Vertex Pharmaceuticals will post 1.95 EPS for the current fiscal year.
Vertex Pharmaceuticals announced that its Board of Directors has approved a share buyback program on Wednesday, January 31st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the pharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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