Vertex Pharmaceuticals Incorporated (VRTX) Shares Sold by Retirement Systems of Alabama
Retirement Systems of Alabama lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,090 shares of the pharmaceutical company’s stock after selling 7,313 shares during the period. Retirement Systems of Alabama owned about 0.06% of Vertex Pharmaceuticals worth $23,580,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of VRTX. Dimensional Fund Advisors LP lifted its stake in Vertex Pharmaceuticals by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 272,933 shares of the pharmaceutical company’s stock worth $29,842,000 after purchasing an additional 5,496 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Vertex Pharmaceuticals during the first quarter worth about $4,387,000. Bank of Montreal Can lifted its stake in Vertex Pharmaceuticals by 31.1% during the second quarter. Bank of Montreal Can now owns 208,167 shares of the pharmaceutical company’s stock worth $26,825,000 after purchasing an additional 49,427 shares during the last quarter. Creative Planning lifted its stake in Vertex Pharmaceuticals by 32.8% during the second quarter. Creative Planning now owns 3,716 shares of the pharmaceutical company’s stock worth $479,000 after purchasing an additional 917 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Vertex Pharmaceuticals by 14.1% during the second quarter. Fisher Asset Management LLC now owns 5,946 shares of the pharmaceutical company’s stock worth $766,000 after purchasing an additional 733 shares during the last quarter. 92.79% of the stock is owned by hedge funds and other institutional investors.
VRTX has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Vetr upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 price objective on the stock in a report on Tuesday, July 18th. Barclays PLC upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $115.00 to $180.00 in a report on Wednesday, July 19th. Cowen and Company upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $105.00 to $200.00 in a report on Wednesday, July 19th. Finally, Janney Montgomery Scott upgraded Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Wednesday, July 19th. One 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’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $173.15.
In related news, EVP Amit Sachdev sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $145.05, for a total value 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 approximately $13,026,940.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ian F. Smith sold 2,155 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total value of $323,250.00. Following the completion of the transaction, the chief operating officer now directly owns 43,043 shares in the company, valued at $6,456,450. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,094 shares of company stock worth $32,074,719. Insiders own 1.80% of the company’s stock.
Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at $147.50 on Tuesday. 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 Incorporated has a 12-month low of $71.46 and a 12-month high of $167.85. The company has a market capitalization of $37,616.77, a P/E ratio of 247.90, a PEG ratio of 3.78 and a beta of 1.63.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The firm had revenue of $578.20 million for the quarter, compared to analysts’ expectations of $522.07 million. During the same period in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year. research analysts predict that Vertex Pharmaceuticals Incorporated will post 0.72 earnings per share for the current year.
Vertex Pharmaceuticals Company 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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