ING Groep NV reduced its stake in Vertex Pharmaceuticals (NASDAQ:VRTX) by 23.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,836 shares of the pharmaceutical company’s stock after selling 13,544 shares during the period. ING Groep NV’s holdings in Vertex Pharmaceuticals were worth $7,144,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Massachusetts Financial Services Co. MA acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $247,701,000. Renaissance Technologies LLC increased its holdings in Vertex Pharmaceuticals by 108.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,847,917 shares of the pharmaceutical company’s stock valued at $426,789,000 after purchasing an additional 1,479,897 shares in the last quarter. HealthCor Management L.P. increased its holdings in Vertex Pharmaceuticals by 1,974.4% in the 4th quarter. HealthCor Management L.P. now owns 725,000 shares of the pharmaceutical company’s stock valued at $108,649,000 after purchasing an additional 690,050 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Vertex Pharmaceuticals by 90.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,203,221 shares of the pharmaceutical company’s stock valued at $180,315,000 after purchasing an additional 570,287 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in Vertex Pharmaceuticals by 102.7% in the 4th quarter. Two Sigma Investments LP now owns 912,724 shares of the pharmaceutical company’s stock valued at $136,781,000 after purchasing an additional 462,416 shares in the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.
Several analysts recently issued reports on the company. BidaskClub upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. Leerink Swann reissued an “outperform” rating and issued a $190.00 price objective (up from $175.00) on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. TheStreet raised shares of Vertex Pharmaceuticals from a “c+” rating to a “b-” rating in a research report on Friday, March 2nd. Maxim Group upped their price objective on shares of Vertex Pharmaceuticals from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, March 5th. Finally, BMO Capital Markets upped their price objective on shares of Vertex Pharmaceuticals from $184.00 to $191.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $184.54.
Shares of Vertex Pharmaceuticals opened at $155.97 on Friday, Marketbeat reports. The company has a current ratio of 3.68, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a one year low of $113.79 and a one year high of $178.25. The stock has a market cap of $37.99 billion, a PE ratio of 194.96, a P/E/G ratio of 1.82 and a beta of 1.44.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, April 26th. The pharmaceutical company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.13. Vertex Pharmaceuticals had a net margin of 9.36% and a return on equity of 15.28%. The firm had revenue of $641.00 million for the quarter, compared to analysts’ expectations of $626.05 million. During the same quarter last year, the company posted $0.99 earnings per share. Vertex Pharmaceuticals’s revenue was down 10.2% on a year-over-year basis. analysts anticipate that Vertex Pharmaceuticals will post 1.95 EPS for the current year.
Vertex Pharmaceuticals announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 31st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the pharmaceutical company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Michael Parini sold 2,330 shares of the firm’s stock in a transaction that occurred on Thursday, May 3rd. The shares were sold at an average price of $149.50, for a total transaction of $348,335.00. Following the transaction, the executive vice president now owns 41,939 shares in the company, valued at $6,269,880.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ian F. Smith sold 85,093 shares of the firm’s stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $158.32, for a total transaction of $13,471,923.76. Following the transaction, the chief operating officer now owns 68,745 shares in the company, valued at approximately $10,883,708.40. The disclosure for this sale can be found here. Insiders sold 213,631 shares of company stock worth $33,985,572 in the last three months. 1.80% of the stock is currently owned by corporate insiders.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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