Oakbrook Investments LLC cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 21.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,395 shares of the pharmaceutical company’s stock after selling 4,380 shares during the quarter. Oakbrook Investments LLC’s holdings in Vertex Pharmaceuticals were worth $2,457,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Fox Run Management L.L.C. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $612,000. Moody National Bank Trust Division purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $417,000. Westpac Banking Corp grew its position in shares of Vertex Pharmaceuticals by 52.7% in the 4th quarter. Westpac Banking Corp now owns 116,152 shares of the pharmaceutical company’s stock worth $17,407,000 after buying an additional 40,100 shares during the period. Cullinan Associates Inc. grew its position in shares of Vertex Pharmaceuticals by 1.1% in the 4th quarter. Cullinan Associates Inc. now owns 97,947 shares of the pharmaceutical company’s stock worth $14,678,000 after buying an additional 1,093 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Vertex Pharmaceuticals by 2.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 951,176 shares of the pharmaceutical company’s stock worth $142,544,000 after buying an additional 26,101 shares during the period. Institutional investors and hedge funds own 93.19% of the company’s stock.
Several analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. BMO Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, September 27th. DA Davidson initiated coverage on shares of Vertex Pharmaceuticals in a report on Friday, September 29th. They set a “buy” rating and a $200.00 price target on the stock. BTIG Research initiated coverage on shares of Vertex Pharmaceuticals in a research note on Friday, September 29th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, Oppenheimer increased their price objective on shares of Vertex Pharmaceuticals from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $175.89.
In other news, EVP Stuart A. Arbuckle sold 221 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $147.29, for a total transaction of $32,551.09. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey M. Leiden sold 125,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $141.35, for a total value of $17,668,750.00. Following the sale, the chief executive officer now owns 237,407 shares in the company, valued at approximately $33,557,479.45. The disclosure for this sale can be found here. Insiders sold 458,028 shares of company stock valued at $67,470,259 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
Vertex Pharmaceuticals Incorporated (VRTX) traded up $1.28 during mid-day trading on Thursday, hitting $156.99. 1,270,800 shares of the company were exchanged, compared to its average volume of 1,551,236. Vertex Pharmaceuticals Incorporated has a 1 year low of $80.06 and a 1 year high of $167.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28. The stock has a market capitalization of $39,740.00, a price-to-earnings ratio of 201.27, a PEG ratio of 1.84 and a beta of 1.58.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The company had revenue of $578.20 million during the quarter, compared to analyst estimates of $522.07 million. During the same period in the previous year, the firm earned $0.16 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 39.7% compared to the same quarter last year. research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 0.76 EPS for the current fiscal year.
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About Vertex Pharmaceuticals
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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