YorkBridge Wealth Partners LLC Lowers Stake in Vertex Pharmaceuticals Incorporated (VRTX)
YorkBridge Wealth Partners LLC cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,411 shares of the pharmaceutical company’s stock after selling 64 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in Vertex Pharmaceuticals were worth $181,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in VRTX. BlackRock Inc. increased its stake in shares of Vertex Pharmaceuticals by 2,699.4% in the first quarter. BlackRock Inc. now owns 19,246,380 shares of the pharmaceutical company’s stock valued at $2,104,591,000 after buying an additional 18,558,874 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 253.8% in the second quarter. Jennison Associates LLC now owns 5,055,122 shares of the pharmaceutical company’s stock valued at $651,454,000 after buying an additional 3,626,368 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in shares of Vertex Pharmaceuticals by 1,384.7% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,195,455 shares of the pharmaceutical company’s stock valued at $154,058,000 after buying an additional 1,114,939 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Vertex Pharmaceuticals by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,474,890 shares of the pharmaceutical company’s stock valued at $1,801,530,000 after buying an additional 560,796 shares in the last quarter. Finally, AJO LP acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at $71,956,000. Institutional investors own 92.85% of the company’s stock.
A number of analysts have recently weighed in on VRTX shares. Cowen and Company restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 1st. Jefferies Group LLC started coverage on Vertex Pharmaceuticals in a research note on Monday, July 10th. They issued a “buy” rating and a $155.00 target price for the company. Credit Suisse Group raised their target price on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $174.00 target price for the company in a research note on Tuesday. Finally, BidaskClub lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $167.04.
In other news, EVP Michael Parini sold 10,829 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $161.00, for a total value of $1,743,469.00. Following the transaction, the executive vice president now owns 37,309 shares in the company, valued at $6,006,749. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jeffrey Chodakewitz sold 3,438 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $127.80, for a total value of $439,376.40. Following the completion of the transaction, the chief marketing officer now owns 125,949 shares in the company, valued at approximately $16,096,282.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 518,358 shares of company stock worth $83,072,822. Corporate insiders own 1.80% of the company’s stock.
Vertex Pharmaceuticals Incorporated (VRTX) traded up 1.62% during midday trading on Friday, reaching $152.04. The company’s stock had a trading volume of 1,500,162 shares. The firm has a 50 day moving average of $154.59 and a 200 day moving average of $128.57. The firm has a market cap of $38.33 billion, a P/E ratio of 146.05 and a beta of 1.75. Vertex Pharmaceuticals Incorporated has a 52-week low of $71.46 and a 52-week high of $167.85.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.33. The business had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The company’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.62 earnings per share for the current fiscal year.
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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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