Citizens Financial Group Inc RI lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 607 shares of the pharmaceutical company’s stock after selling 58 shares during the period. Citizens Financial Group Inc RI’s holdings in Vertex Pharmaceuticals were worth $144,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in VRTX. AE Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $386,000. Exchange Traded Concepts LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $94,000. Savior LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $27,000. Optimum Investment Advisors boosted its holdings in shares of Vertex Pharmaceuticals by 33.6% in the fourth quarter. Optimum Investment Advisors now owns 596 shares of the pharmaceutical company’s stock worth $130,000 after buying an additional 150 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Vertex Pharmaceuticals by 55.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 275 shares of the pharmaceutical company’s stock worth $60,000 after buying an additional 98 shares during the period. Institutional investors own 94.42% of the company’s stock.
In other news, EVP Amit Sachdev sold 10,665 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $282.61, for a total value of $3,014,035.65. Following the transaction, the executive vice president now owns 45,768 shares of the company’s stock, valued at $12,934,494.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Jeffrey M. Leiden sold 94,370 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $283.47, for a total transaction of $26,751,063.90. Following the completion of the transaction, the chairman now directly owns 65,036 shares in the company, valued at approximately $18,435,754.92. The disclosure for this sale can be found here. In the last three months, insiders sold 294,379 shares of company stock worth $80,059,781. Insiders own 0.70% of the company’s stock.
Several research analysts have commented on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $298.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, April 30th. Wolfe Research assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, March 12th. They issued an “outperform” rating and a $282.00 target price for the company. Robert W. Baird cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $210.00 to $230.00 in a report on Friday, January 31st. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, May 15th. Finally, Evercore ISI restated a “hold” rating and set a $270.00 price target on shares of Vertex Pharmaceuticals in a report on Sunday, February 2nd. Eight investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $278.81.
NASDAQ VRTX opened at $284.63 on Friday. The company has a quick ratio of 3.42, a current ratio of 3.54 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $73.80 billion, a PE ratio of 50.74, a price-to-earnings-growth ratio of 1.38 and a beta of 0.92. The company has a 50 day moving average price of $263.60 and a two-hundred day moving average price of $233.68. Vertex Pharmaceuticals Incorporated has a 12-month low of $165.23 and a 12-month high of $295.55.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, April 29th. The pharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.72. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 25.69%. The company’s revenue was up 76.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 earnings per share. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 7.31 EPS for the current year.
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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