Vertex Pharmaceuticals Incorporated (VRTX) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,979,872 shares of the pharmaceutical company’s stock after purchasing an additional 504,982 shares during the period. Vanguard Group Inc. owned about 6.73% of Vertex Pharmaceuticals worth $2,188,196,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America lifted its stake in Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after purchasing an additional 6 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Vertex Pharmaceuticals by 15.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock valued at $127,000 after purchasing an additional 132 shares during the last quarter. FNY Partners Fund LP lifted its stake in Vertex Pharmaceuticals by 900.0% in the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock valued at $128,000 after purchasing an additional 900 shares during the last quarter. Dupont Capital Management Corp purchased a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $186,000. Finally, State of Alaska Department of Revenue purchased a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $197,000. Institutional investors and hedge funds own 92.85% of the company’s stock.
VRTX has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a research note on Tuesday, July 4th. Needham & Company LLC upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Friday, June 23rd. BidaskClub downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $184.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Vertex Pharmaceuticals has an average rating of “Buy” and an average price target of $163.35.
In other news, EVP David Altshuler sold 1,796 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $160.00, for a total value of $287,360.00. Following the sale, the executive vice president now directly owns 107,807 shares in the company, valued at approximately $17,249,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey M. Leiden sold 216,624 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the completion of the sale, the chief executive officer now owns 400,266 shares in the company, valued at $64,426,815.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 518,358 shares of company stock worth $83,072,822. Insiders own 1.80% of the company’s stock.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The firm had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. During the same period in the previous year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 26.1% on a year-over-year basis.
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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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