MUFG Securities EMEA plc grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 87.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,400 shares of the pharmaceutical company’s stock after acquiring an additional 25,400 shares during the quarter. MUFG Securities EMEA plc’s holdings in Vertex Pharmaceuticals were worth $9,976,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Next Capital Management LLC boosted its position in Vertex Pharmaceuticals by 84.4% during the second quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock worth $30,000 after purchasing an additional 76 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth approximately $32,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Vertex Pharmaceuticals by 118.5% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 96 shares during the period. Pittenger & Anderson Inc. grew its holdings in Vertex Pharmaceuticals by 64.7% in the first quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 75 shares during the period. Finally, Thor Advisors LLC acquired a new position in Vertex Pharmaceuticals during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 95.03% of the company’s stock.
VRTX has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $215.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Needham & Company LLC downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Maxim Group reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, August 2nd. BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $220.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $210.68.
In other news, EVP Stuart A. Arbuckle sold 2,125 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $181.89, for a total transaction of $386,516.25. Following the transaction, the executive vice president now owns 35,365 shares in the company, valued at $6,432,539.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stuart A. Arbuckle sold 2,155 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $177.78, for a total value of $383,115.90. Following the transaction, the executive vice president now directly owns 34,395 shares in the company, valued at $6,114,743.10. The disclosure for this sale can be found here. Insiders have sold 93,641 shares of company stock worth $16,705,255 in the last 90 days. 0.70% of the stock is owned by company insiders.
NASDAQ:VRTX traded up $1.81 during mid-day trading on Wednesday, hitting $172.82. The company had a trading volume of 70,030 shares, compared to its average volume of 983,849. The business has a fifty day simple moving average of $178.32 and a 200-day simple moving average of $177.87. The firm has a market capitalization of $44.93 billion, a price-to-earnings ratio of 61.07, a PEG ratio of 2.28 and a beta of 1.37. Vertex Pharmaceuticals Incorporated has a 1 year low of $151.80 and a 1 year high of $195.81. The company has a current ratio of 3.74, a quick ratio of 3.63 and a debt-to-equity ratio of 0.12.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.24. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The business had revenue of $941.29 million during the quarter, compared to analyst estimates of $884.66 million. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.41 earnings per share for the current year.
Vertex Pharmaceuticals declared that its board has authorized a stock buyback plan on Wednesday, July 31st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the pharmaceutical company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Vertex Pharmaceuticals Company Profile
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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