US Bancorp DE lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,369 shares of the pharmaceutical company’s stock after selling 1,315 shares during the period. US Bancorp DE’s holdings in Vertex Pharmaceuticals were worth $1,253,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 357.5% in the 2nd quarter. American Century Companies Inc. now owns 1,125,428 shares of the pharmaceutical company’s stock valued at $191,278,000 after buying an additional 879,411 shares in the last quarter. Pinnacle Associates Ltd. purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $204,000. Mission Wealth Management LP purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $347,000. State Treasurer State of Michigan raised its position in Vertex Pharmaceuticals by 0.9% during the 2nd quarter. State Treasurer State of Michigan now owns 75,468 shares of the pharmaceutical company’s stock worth $12,827,000 after buying an additional 700 shares during the last quarter. Finally, Twin Tree Management LP raised its position in Vertex Pharmaceuticals by 232.0% during the 2nd quarter. Twin Tree Management LP now owns 17,609 shares of the pharmaceutical company’s stock worth $2,993,000 after buying an additional 12,305 shares during the last quarter. 93.45% of the stock is owned by institutional investors.
In other news, EVP David Altshuler sold 2,125 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $181.89, for a total transaction of $386,516.25. Following the sale, the executive vice president now owns 41,238 shares in the company, valued at $7,500,779.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ian F. Smith sold 4,250 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $160.00, for a total transaction of $680,000.00. Following the sale, the chief operating officer now owns 50,949 shares in the company, valued at approximately $8,151,840. The disclosure for this sale can be found here. Insiders sold 205,790 shares of company stock worth $33,615,981 in the last 90 days. 1.80% of the stock is currently owned by insiders.
Shares of VRTX stock traded down $0.85 during trading hours on Friday, hitting $179.01. 817,106 shares of the company were exchanged, compared to its average volume of 932,258. The firm has a market cap of $45.58 billion, a P/E ratio of 223.76, a PEG ratio of 1.82 and a beta of 1.46. Vertex Pharmaceuticals Incorporated has a 1 year low of $136.50 and a 1 year high of $186.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 3.55.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The business had revenue of $752.20 million for the quarter, compared to analyst estimates of $680.86 million. During the same period in the prior year, the firm posted $0.39 EPS. The company’s revenue was up 38.2% on a year-over-year basis. analysts expect that Vertex Pharmaceuticals Incorporated will post 2.48 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Jefferies Financial Group upped their price target on shares of Vertex Pharmaceuticals to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Argus upped their price target on shares of Vertex Pharmaceuticals to $200.00 and gave the stock an “average” rating in a research note on Tuesday, August 28th. They noted that the move was a valuation call. BMO Capital Markets increased their price objective on shares of Vertex Pharmaceuticals to $204.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $203.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $196.52.
About Vertex Pharmaceuticals
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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