Ray Gerald L & Associates Ltd. trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,670 shares of the pharmaceutical company’s stock after selling 1,400 shares during the quarter. Ray Gerald L & Associates Ltd.’s holdings in Vertex Pharmaceuticals were worth $5,423,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Vertex Pharmaceuticals by 0.8% in the second quarter. BlackRock Inc. now owns 19,405,981 shares of the pharmaceutical company’s stock worth $2,500,849,000 after acquiring an additional 159,601 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Vertex Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock valued at $2,188,196,000 after purchasing an additional 504,982 shares during the period. Jennison Associates LLC grew its position 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 purchasing an additional 3,626,368 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of Vertex Pharmaceuticals by 28.1% in the second quarter. TIAA CREF Investment Management LLC now owns 2,077,303 shares of the pharmaceutical company’s stock valued at $267,702,000 after purchasing an additional 456,290 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Vertex Pharmaceuticals by 4.5% in the second quarter. Wells Fargo & Company MN now owns 1,916,227 shares of the pharmaceutical company’s stock valued at $246,944,000 after purchasing an additional 83,314 shares during the period. 93.36% of the stock is owned by institutional investors.
Vertex Pharmaceuticals Incorporated (VRTX) traded up $5.07 during trading hours on Friday, hitting $149.97. The company had a trading volume of 1,788,078 shares, compared to its average volume of 1,785,032. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 3.28. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $71.46 and a fifty-two week high of $167.85. The firm has a market capitalization of $37,927.86, a PE ratio of 249.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.63.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The business had revenue of $578.20 million for the quarter, compared to analysts’ expectations of $522.07 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 39.7% compared to the same quarter last year. equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 0.72 EPS for the current fiscal year.
A number of brokerages have recently commented on VRTX. Raymond James Financial, Inc. raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price objective for the company in a research report on Wednesday, July 19th. J P Morgan Chase & Co set a $175.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, July 19th. Oppenheimer Holdings, Inc. lifted their price objective on Vertex Pharmaceuticals from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. BMO Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, September 27th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $173.15.
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In other Vertex Pharmaceuticals 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 transaction of $5,802,000.00. Following the sale, the executive vice president now owns 89,810 shares in the company, valued at $13,026,940.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ian F. Smith sold 4,250 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $155.39, for a total value of $660,407.50. Following the sale, the chief financial officer now owns 120,138 shares in the company, valued at approximately $18,668,243.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,030 shares of company stock worth $28,878,352. Insiders own 1.80% of the company’s stock.
Vertex Pharmaceuticals 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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