Vertex Pharmaceuticals Incorporated (VRTX) Position Reduced by BT Investment Management Ltd
BT Investment Management Ltd reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,547 shares of the pharmaceutical company’s stock after selling 15,965 shares during the quarter. BT Investment Management Ltd’s holdings in Vertex Pharmaceuticals were worth $10,422,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of VRTX. Dimensional Fund Advisors LP lifted its holdings in Vertex Pharmaceuticals by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 282,815 shares of the pharmaceutical company’s stock worth $36,445,000 after acquiring an additional 9,882 shares during the period. AHL Partners LLP bought a new stake in Vertex Pharmaceuticals during the second quarter worth $916,000. Royal Bank of Canada lifted its holdings in Vertex Pharmaceuticals by 67.4% during the second quarter. Royal Bank of Canada now owns 141,971 shares of the pharmaceutical company’s stock worth $18,295,000 after acquiring an additional 57,178 shares during the period. Janus Henderson Group PLC increased its position in Vertex Pharmaceuticals by 1,191.3% in the second quarter. Janus Henderson Group PLC now owns 448,975 shares of the pharmaceutical company’s stock worth $57,860,000 after buying an additional 414,206 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Vertex Pharmaceuticals by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 274,237 shares of the pharmaceutical company’s stock worth $35,341,000 after buying an additional 3,271 shares during the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.
In related news, EVP Stuart A. Arbuckle sold 221 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $147.29, for a total transaction of $32,551.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Graney sold 777 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $149.95, for a total value of $116,511.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 403,165 shares of company stock valued at $62,154,183. 1.80% of the stock is owned by company insiders.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.08. The company had revenue of $651.63 million during the quarter, compared to analysts’ expectations of $592.49 million. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The firm’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. analysts anticipate that Vertex Pharmaceuticals Incorporated will post 1.63 EPS for the current year.
Vertex Pharmaceuticals declared that its board has approved a stock 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 typically an indication that the company’s leadership believes its shares are undervalued.
A number of analysts have issued reports on the company. HC Wainwright reissued a “hold” rating and issued a $103.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. Bank of America raised their target price on Vertex Pharmaceuticals from $180.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. Leerink Swann reissued an “outperform” rating and issued a $190.00 target price (up from $175.00) on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $180.07.
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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