New Mexico Educational Retirement Board reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,300 shares of the pharmaceutical company’s stock after selling 500 shares during the period. New Mexico Educational Retirement Board’s holdings in Vertex Pharmaceuticals were worth $3,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Resources Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $27,000. We Are One Seven LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $32,000. Berman Capital Advisors LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $35,000. Sontag Advisory LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $36,000. Finally, Quantamental Technologies LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.
In other news, CMO Reshma Kewalramani sold 1,488 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $278,166.72. Following the completion of the sale, the chief marketing officer now owns 14,038 shares of the company’s stock, valued at $2,624,263.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Altshuler sold 1,223 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $194.62, for a total transaction of $238,020.26. Following the sale, the executive vice president now directly owns 40,336 shares of the company’s stock, valued at approximately $7,850,192.32. The disclosure for this sale can be found here. Insiders have sold 208,624 shares of company stock valued at $38,187,166 in the last ninety days. Insiders own 0.75% of the company’s stock.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.24. Vertex Pharmaceuticals had a net margin of 68.81% and a return on equity of 24.15%. The firm had revenue of $870.11 million during the quarter, compared to the consensus estimate of $818.29 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s revenue was up 33.5% on a year-over-year basis. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.04 EPS for the current fiscal year.
Several research analysts recently commented on the company. BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI began coverage on Vertex Pharmaceuticals in a research report on Thursday, April 11th. They issued an “in-line” rating and a $183.00 price target for the company. William Blair upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $183.85 target price for the company in a research report on Tuesday, March 26th. Svb Leerink restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 19th. Finally, Leerink Swann lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $185.40 target price for the company. in a research report on Tuesday, March 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $203.31.
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Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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