Meadow Creek Investment Management LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,906 shares of the pharmaceutical company’s stock after selling 1,802 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $9,727,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in shares of Vertex Pharmaceuticals by 337.6% during the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock worth $119,000 after acquiring an additional 611 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Vertex Pharmaceuticals by 153.5% during the 4th quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock worth $149,000 after acquiring an additional 600 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $162,000. Financial Gravity Companies Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $201,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $184,000. 94.51% of the stock is owned by institutional investors and hedge funds.
In other Vertex Pharmaceuticals news, CFO Thomas Graney sold 777 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $149.95, for a total transaction of $116,511.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Amit Sachdev sold 46,172 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $158.65, for a total value of $7,325,187.80. Following the transaction, the executive vice president now owns 57,835 shares in the company, valued at $9,175,522.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 356,966 shares of company stock valued at $57,081,624. 1.80% of the stock is owned by corporate insiders.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.08. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The business had revenue of $651.63 million during the quarter, compared to analyst estimates of $592.49 million. During the same period last year, the company earned $0.35 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 42.1% compared to the same quarter last year. analysts predict that Vertex Pharmaceuticals Incorporated will post 1.67 EPS for the current year.
Vertex Pharmaceuticals declared that its board has authorized a stock buyback plan on Wednesday, January 31st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the pharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Several research firms have recently weighed in on VRTX. Bank of America raised their price objective on Vertex Pharmaceuticals from $180.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. HC Wainwright reissued a “hold” rating and set a $103.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. BidaskClub raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Leerink Swann reissued an “outperform” rating and set a $190.00 price objective (up from $175.00) on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Finally, JMP Securities reissued an “outperform” rating and set a $211.00 price objective (up from $200.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $183.96.
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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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