Financial Gravity Wealth Inc. purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,118 shares of the pharmaceutical company’s stock, valued at approximately $208,000.
A number of other large investors have also modified their holdings of VRTX. Martingale Asset Management L P boosted its stake in Vertex Pharmaceuticals by 28.4% during the 3rd quarter. Martingale Asset Management L P now owns 14,012 shares of the pharmaceutical company’s stock worth $2,701,000 after purchasing an additional 3,100 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth $1,434,000. Neuberger Berman Group LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 249,092 shares of the pharmaceutical company’s stock worth $48,010,000 after acquiring an additional 657 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Vertex Pharmaceuticals by 17,021.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 64,375 shares of the pharmaceutical company’s stock worth $334,000 after acquiring an additional 63,999 shares during the period. Finally, Waldron Private Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth $676,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.
Shares of VRTX opened at $168.16 on Friday. The stock has a market capitalization of $42.99 billion, a PE ratio of 59.42, a P/E/G ratio of 2.67 and a beta of 1.64. Vertex Pharmaceuticals Incorporated has a 52-week low of $144.07 and a 52-week high of $195.81.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.24. The business had revenue of $870.11 million during the quarter, compared to the consensus estimate of $818.29 million. Vertex Pharmaceuticals had a net margin of 68.81% and a return on equity of 24.15%. The business’s revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.04 earnings per share for the current fiscal year.
In other news, EVP Stuart A. Arbuckle sold 5,624 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $181.75, for a total value of $1,022,162.00. Following the completion of the transaction, the executive vice president now owns 36,272 shares in the company, valued at approximately $6,592,436. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Altshuler sold 2,125 shares of the stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $193.48, for a total transaction of $411,145.00. Following the completion of the transaction, the executive vice president now owns 41,238 shares of the company’s stock, valued at approximately $7,978,728.24. The disclosure for this sale can be found here. Insiders sold a total of 210,018 shares of company stock valued at $38,398,113 in the last quarter. Insiders own 0.75% of the company’s stock.
VRTX has been the subject of several recent analyst reports. Maxim Group cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. They noted that the move was a valuation call. Svb Leerink restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, March 19th. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Oppenheimer raised their target price on shares of Vertex Pharmaceuticals from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, Citigroup reduced their target price on shares of Vertex Pharmaceuticals from $206.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, January 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $203.31.
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About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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