Van ECK Associates Corp Cuts Position in Vertex Pharmaceuticals Incorporated (VRTX)
Van ECK Associates Corp reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,332 shares of the pharmaceutical company’s stock after selling 24,813 shares during the period. Van ECK Associates Corp owned 0.08% of Vertex Pharmaceuticals worth $31,523,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Achmea Investment Management B.V. grew its stake in Vertex Pharmaceuticals by 68.0% in the 2nd quarter. Achmea Investment Management B.V. now owns 8,668 shares of the pharmaceutical company’s stock worth $1,116,000 after acquiring an additional 3,507 shares during the period. NorthCoast Asset Management LLC purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $782,000. Delta Lloyd Asset Management N.V. purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $3,285,000. Prudential Financial Inc. grew its stake in Vertex Pharmaceuticals by 12.8% in the 2nd quarter. Prudential Financial Inc. now owns 444,725 shares of the pharmaceutical company’s stock worth $57,312,000 after acquiring an additional 50,350 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in Vertex Pharmaceuticals by 89.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,463 shares of the pharmaceutical company’s stock worth $1,863,000 after acquiring an additional 6,836 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.
In related news, EVP Amit Sachdev sold 40,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $145.05, for a total transaction of $5,802,000.00. Following the completion of the sale, the executive vice president now directly owns 89,810 shares of the company’s stock, valued at approximately $13,026,940.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Altshuler sold 1,796 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $160.00, for a total transaction of $287,360.00. Following the completion of the transaction, the executive vice president now owns 107,807 shares in the company, valued at approximately $17,249,120. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,315 shares of company stock valued at $32,107,270. 1.80% of the stock is owned by corporate insiders.
Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at $146.55 on Friday. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $71.46 and a 12-month high of $167.85. The firm has a market cap of $37,186.83, a price-to-earnings ratio of 245.07, a P/E/G ratio of 3.74 and a beta of 1.63.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The firm had revenue of $578.20 million during the quarter, compared to analysts’ expectations of $522.07 million. During the same period in the prior year, the company earned $0.16 EPS. The firm’s revenue was up 39.7% on a year-over-year basis. analysts anticipate that Vertex Pharmaceuticals Incorporated will post 0.72 earnings per share for the current year.
Several analysts have commented on VRTX shares. BTIG Research started coverage on shares of Vertex Pharmaceuticals in a research note on Friday, September 29th. They issued a “buy” rating and a $200.00 target price for the company. BMO Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, September 27th. Cowen Inc reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 1st. Argus lifted their target price on shares of Vertex Pharmaceuticals from $71.46 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a research note on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $173.15.
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Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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