Boston Advisors LLC Has $5.05 Million Stake in Vertex Pharmaceuticals Incorporated (VRTX)
Boston Advisors LLC lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 27,448 shares of the pharmaceutical company’s stock after selling 8,333 shares during the period. Boston Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $5,049,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $208,000. WESPAC Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 1st quarter valued at approximately $618,000. Barometer Capital Management Inc. bought a new stake in Vertex Pharmaceuticals during the 1st quarter valued at approximately $975,000. Gulf International Bank UK Ltd boosted its position in Vertex Pharmaceuticals by 1.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 59,614 shares of the pharmaceutical company’s stock valued at $10,965,000 after acquiring an additional 805 shares in the last quarter. Finally, Pennsylvania Trust Co boosted its position in Vertex Pharmaceuticals by 129.3% during the 1st quarter. Pennsylvania Trust Co now owns 4,184 shares of the pharmaceutical company’s stock valued at $770,000 after acquiring an additional 2,359 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.
VRTX has been the topic of a number of analyst reports. Svb Leerink reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 19th. BidaskClub raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, January 10th. Zacks Investment Research cut Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Raymond James cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $165.71 price target on the stock. in a research report on Wednesday, January 2nd. Finally, Cowen reissued a “buy” rating and issued a $220.00 price target on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $203.31.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.06 by $0.24. The firm had revenue of $870.11 million during the quarter, compared to analyst estimates of $818.29 million. Vertex Pharmaceuticals had a return on equity of 24.15% and a net margin of 68.81%. Vertex Pharmaceuticals’s revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 2.97 earnings per share for the current fiscal year.
In related news, EVP Michael Parini sold 3,450 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $190.92, for a total value of $658,674.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey M. Leiden sold 111,431 shares of the company’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $180.24, for a total transaction of $20,084,323.44. Following the completion of the transaction, the chief executive officer now directly owns 223,916 shares of the company’s stock, valued at approximately $40,358,619.84. The disclosure for this sale can be found here. Insiders sold a total of 207,893 shares of company stock valued at $37,986,968 over the last 90 days. 0.75% of the stock is currently owned by company insiders.
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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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