Xact Kapitalforvaltning AB trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,554 shares of the pharmaceutical company’s stock after selling 3,269 shares during the period. Xact Kapitalforvaltning AB’s holdings in Vertex Pharmaceuticals were worth $8,587,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of VRTX. Mount Yale Investment Advisors LLC purchased a new position in Vertex Pharmaceuticals during the first quarter valued at $101,000. Kaizen Advisory LLC lifted its holdings in Vertex Pharmaceuticals by 147.3% during the second quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock valued at $102,000 after purchasing an additional 358 shares in the last quarter. Sun Life Financial INC lifted its holdings in Vertex Pharmaceuticals by 266.1% during the second quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock valued at $118,000 after purchasing an additional 503 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Vertex Pharmaceuticals during the second quarter valued at $125,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Vertex Pharmaceuticals by 3,126.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock valued at $126,000 after purchasing an additional 719 shares in the last quarter. 93.53% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Thomas Graney sold 1,076 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $193.24, for a total value of $207,926.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Parini sold 2,125 shares of the firm’s stock in a transaction dated Friday, October 12th. The stock was sold at an average price of $177.20, for a total transaction of $376,550.00. Following the sale, the executive vice president now owns 41,734 shares of the company’s stock, valued at $7,395,264.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,325 shares of company stock worth $6,135,340. Insiders own 1.80% of the company’s stock.
Several research firms have issued reports on VRTX. Cantor Fitzgerald began coverage on shares of Vertex Pharmaceuticals in a report on Monday, October 1st. They set an “overweight” rating and a $217.00 price objective on the stock. Raymond James began coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, October 2nd. They set a “buy” rating on the stock. BidaskClub raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Finally, Jefferies Financial Group increased their price objective on shares of Vertex Pharmaceuticals to $210.00 and gave the company a “buy” rating in a report on Monday, July 16th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $197.68.
Shares of NASDAQ:VRTX traded up $1.19 during midday trading on Friday, hitting $180.09. The company’s stock had a trading volume of 4,278 shares, compared to its average volume of 1,251,744. The company has a current ratio of 3.67, a quick ratio of 3.55 and a debt-to-equity ratio of 0.01. The company has a market cap of $47.40 billion, a P/E ratio of 225.25, a P/E/G ratio of 1.87 and a beta of 1.48. Vertex Pharmaceuticals Incorporated has a 12-month low of $136.50 and a 12-month high of $194.92.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.54. The firm had revenue of $752.20 million for the quarter, compared to the consensus estimate of $680.86 million. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 2.51 earnings per share for the current year.
Vertex Pharmaceuticals Company 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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