Macquarie Group Ltd. reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,347 shares of the pharmaceutical company’s stock after selling 3,048 shares during the quarter. Macquarie Group Ltd. owned 0.08% of Vertex Pharmaceuticals worth $26,721,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teachers Advisors LLC raised its position in Vertex Pharmaceuticals by 48.6% during the first quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock worth $55,809,000 after acquiring an additional 166,998 shares in the last quarter. Dynamic Capital Management Ltd raised its position in Vertex Pharmaceuticals by 53.8% during the first quarter. Dynamic Capital Management Ltd now owns 39,614 shares of the pharmaceutical company’s stock worth $4,332,000 after acquiring an additional 13,853 shares in the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in Vertex Pharmaceuticals during the second quarter worth $3,285,000. NorthCoast Asset Management LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth $782,000. Finally, Prudential Financial Inc. raised its position in Vertex Pharmaceuticals by 12.8% during the second quarter. Prudential Financial Inc. now owns 444,725 shares of the pharmaceutical company’s stock worth $57,312,000 after acquiring an additional 50,350 shares in the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on VRTX. Cowen and Company reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 1st. BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. DA Davidson began coverage on shares of Vertex Pharmaceuticals in a research report on Friday, September 29th. They set a “buy” rating and a $200.00 price target on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, September 27th. Finally, BTIG Research began coverage on shares of Vertex Pharmaceuticals in a research report on Friday, September 29th. They set a “buy” rating and a $200.00 price target on the stock. One investment 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 given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $167.04.
In other news, EVP Amit Sachdev sold 28,625 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $160.93, for a total transaction of $4,606,621.25. Following the sale, the executive vice president now directly owns 119,335 shares in the company, valued at $19,204,581.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Jeffrey Chodakewitz sold 573 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $129.85, for a total value of $74,404.05. Following the sale, the chief marketing officer now owns 123,084 shares in the company, valued at $15,982,457.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 518,357 shares of company stock worth $83,154,633. Company insiders own 1.80% of the company’s stock.
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Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at 154.52 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $167.85. The firm’s 50-day moving average is $154.33 and its 200-day moving average is $135.12. The firm has a market capitalization of $38.96 billion, a P/E ratio of 148.43 and a beta of 1.73.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s revenue was up 26.1% on a year-over-year basis. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.62 EPS 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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