Public Employees Retirement Association of Colorado lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% during the third quarter, Holdings Channel reports. The fund owned 687,576 shares of the pharmaceutical company’s stock after selling 760 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Vertex Pharmaceuticals were worth $116,489,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of VRTX. Next Capital Management LLC boosted its holdings in Vertex Pharmaceuticals by 84.4% in the second quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock valued at $30,000 after purchasing an additional 76 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $32,000. Patriot Financial Group Insurance Agency LLC raised its stake 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 valued at $32,000 after purchasing an additional 96 shares during the period. HM Payson & Co. bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $35,000. Finally, Captrust Financial Advisors raised its stake 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 valued at $41,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.
VRTX has been the topic of a number of analyst reports. JPMorgan Chase & Co. set a $218.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 21st. Needham & Company LLC cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. BidaskClub upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. ValuEngine upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday. Finally, Citigroup increased their target price on Vertex Pharmaceuticals from $205.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $216.12.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.36. The company had revenue of $949.83 million for the quarter, compared to the consensus estimate of $942.90 million. Vertex Pharmaceuticals had a return on equity of 20.33% and a net margin of 59.24%. Vertex Pharmaceuticals’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.72 EPS for the current year.
Vertex Pharmaceuticals declared that its board has authorized a stock buyback plan on Wednesday, July 31st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the pharmaceutical company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, EVP Amit Sachdev sold 4,097 shares of Vertex Pharmaceuticals stock in a transaction on Monday, November 4th. The stock was sold at an average price of $200.34, for a total transaction of $820,792.98. Following the transaction, the executive vice president now directly owns 35,571 shares in the company, valued at $7,126,294.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 107,831 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $190.00, for a total value of $20,487,890.00. Following the transaction, the chief executive officer now owns 178,707 shares in the company, valued at $33,954,330. The disclosure for this sale can be found here. Insiders have sold 280,596 shares of company stock worth $54,030,128 over the last quarter. 0.70% of the stock is owned by company insiders.
About Vertex Pharmaceuticals
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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