Vertex Pharmaceuticals Incorporated (VRTX) Shares Bought by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 76.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,655 shares of the pharmaceutical company’s stock after acquiring an additional 82,200 shares during the period. Canada Pension Plan Investment Board owned 0.08% of Vertex Pharmaceuticals worth $28,835,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of VRTX. Northwestern Mutual Wealth Management Co. grew its stake in Vertex Pharmaceuticals by 15.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock worth $127,000 after acquiring an additional 132 shares in the last quarter. FNY Partners Fund LP grew its stake in Vertex Pharmaceuticals by 900.0% in the 2nd quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock worth $128,000 after acquiring an additional 900 shares in the last quarter. Dupont Capital Management Corp bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $186,000. State of Alaska Department of Revenue bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $197,000. Finally, Tocqueville Asset Management L.P. bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $203,000. Institutional investors and hedge funds own 93.06% of the company’s stock.
In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 40,000 shares of Vertex Pharmaceuticals stock in a transaction dated 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 transaction, the executive vice president now directly owns 89,810 shares of the company’s stock, valued at $13,026,940.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Jeffrey Chodakewitz sold 1,718 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $155.19, for a total transaction of $266,616.42. Following the transaction, the chief marketing officer now directly owns 116,142 shares in the company, valued at $18,024,076.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 192,491 shares of company stock worth $28,020,882. Insiders own 1.80% of the company’s stock.
Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at $149.97 on Monday. Vertex Pharmaceuticals Incorporated has a 52-week low of $71.46 and a 52-week high of $167.85. The stock has a market cap of $37,927.83, a PE ratio of 249.95, a PEG ratio of 3.81 and a beta of 1.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.49. The business had revenue of $578.20 million for the quarter, compared to analyst estimates of $522.07 million. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The company’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share. sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 0.72 EPS for the current year.
A number of equities analysts have commented on VRTX shares. Jefferies Group LLC started coverage on shares of Vertex Pharmaceuticals in a research note on Monday, July 10th. They issued a “buy” rating and a $155.00 target price on the stock. Stifel Nicolaus upped their price target on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Vetr raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 price target for the company in a research report on Tuesday, July 18th. Barclays PLC raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $115.00 to $180.00 in a research report on Wednesday, July 19th. Finally, Cowen and Company raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $105.00 to $200.00 in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. Vertex Pharmaceuticals presently has an average rating of “Buy” and an average price target of $173.15.
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About Vertex Pharmaceuticals
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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