Michael Parini Sells 10,829 Shares of Vertex Pharmaceuticals Incorporated (VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Michael Parini sold 10,829 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $161.00, for a total transaction of $1,743,469.00. Following the completion of the transaction, the executive vice president now directly owns 37,309 shares of the company’s stock, valued at $6,006,749. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 166.11 on Tuesday. The company has a 50-day moving average price of $132.39 and a 200-day moving average price of $108.69. The stock has a market capitalization of $41.37 billion, a price-to-earnings ratio of 231.67 and a beta of 1.73. Vertex Pharmaceuticals Incorporated has a 52-week low of $71.46 and a 52-week high of $167.00.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. The business had revenue of $714.72 million for the quarter, compared to analysts’ expectations of $692.64 million. Vertex Pharmaceuticals had a return on equity of 3.00% and a net margin of 8.64%. The business’s revenue for the quarter was up 79.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.68 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRTX. Korea Investment CORP boosted its position in Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock worth $104,000 after buying an additional 658 shares in the last quarter. Guardian Life Insurance Co. of America raised 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 worth $105,000 after buying an additional 6 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Vertex Pharmaceuticals by 7.1% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,500 shares of the pharmaceutical company’s stock worth $164,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Vertex Pharmaceuticals during the second quarter worth $197,000. Finally, Sterling Global Strategies LLC bought a new stake in Vertex Pharmaceuticals during the first quarter worth $200,000. Hedge funds and other institutional investors own 94.20% of the company’s stock.

VRTX has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Tuesday, March 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 29th. BMO Capital Markets raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $89.67 to $100.00 in a research report on Wednesday, March 29th. Stifel Nicolaus lifted their price objective on shares of Vertex Pharmaceuticals from $100.00 to $129.00 and gave the stock a “buy” rating in a research report on Wednesday, March 29th. Finally, Credit Suisse Group lifted their price objective on shares of Vertex Pharmaceuticals from $100.00 to $108.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 29th. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $158.16.

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.