Michael Parini Sells 4,250 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Michael Parini sold 4,250 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $177.80, for a total value of $755,650.00. Following the sale, the executive vice president now owns 39,253 shares of the company’s stock, valued at approximately $6,979,183.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Michael Parini also recently made the following trade(s):

  • On Monday, October 14th, Michael Parini sold 2,125 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $174.06, for a total value of $369,877.50.
  • On Monday, August 5th, Michael Parini sold 2,330 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $175.28, for a total value of $408,402.40.

Shares of VRTX stock opened at $191.06 on Wednesday. The stock has a 50 day moving average of $174.45 and a two-hundred day moving average of $175.53. The company has a current ratio of 3.74, a quick ratio of 3.63 and a debt-to-equity ratio of 0.12. Vertex Pharmaceuticals Incorporated has a 12 month low of $151.80 and a 12 month high of $195.81. The company has a market capitalization of $45.30 billion, a P/E ratio of 67.51, a P/E/G ratio of 2.17 and a beta of 1.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.24. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The company had revenue of $941.29 million during the quarter, compared to the consensus estimate of $884.66 million. During the same quarter last year, the company earned $0.94 EPS. The company’s quarterly revenue was up 25.1% on a year-over-year basis. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 3.42 earnings per share for the current fiscal year.

Vertex Pharmaceuticals announced that its Board of Directors has approved a share buyback program on Wednesday, July 31st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the pharmaceutical company to buy up to 1.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Several brokerages recently weighed in on VRTX. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. restated a “buy” rating and set a $212.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, August 1st. Leerink Swann restated a “market perform” rating and set a $203.00 target price (up previously from $186.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday. Bank of America began coverage on Vertex Pharmaceuticals in a research note on Wednesday, October 16th. They set a “buy” rating and a $220.00 target price for the company. Finally, BidaskClub upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $213.74.

Several hedge funds have recently made changes to their positions in VRTX. Next Capital Management LLC lifted its position in shares of Vertex Pharmaceuticals by 84.4% during the 2nd quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock worth $30,000 after buying an additional 76 shares during the period. Evolution Wealth Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $32,000. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Vertex Pharmaceuticals by 118.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 96 shares during the period. HM Payson & Co. bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $35,000. Finally, Captrust Financial Advisors lifted its position in shares of Vertex Pharmaceuticals by 204.1% during the 2nd quarter. Captrust Financial Advisors now owns 222 shares of the pharmaceutical company’s stock worth $41,000 after buying an additional 149 shares during the period. Institutional investors own 94.79% of the company’s stock.

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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