Bank of New York Mellon Corp boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,019,566 shares of the pharmaceutical company’s stock after buying an additional 25,156 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.80% of Vertex Pharmaceuticals worth $302,653,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of VRTX. Rhumbline Advisers lifted its holdings in shares of Vertex Pharmaceuticals by 4.8% during the 4th quarter. Rhumbline Advisers now owns 447,935 shares of the pharmaceutical company’s stock worth $67,128,000 after acquiring an additional 20,478 shares during the period. Arizona State Retirement System increased its position in Vertex Pharmaceuticals by 4.0% in the 4th quarter. Arizona State Retirement System now owns 78,452 shares of the pharmaceutical company’s stock valued at $11,757,000 after acquiring an additional 2,983 shares in the last quarter. Pinebridge Investments L.P. increased its position in Vertex Pharmaceuticals by 2,866.9% in the 4th quarter. Pinebridge Investments L.P. now owns 4,569 shares of the pharmaceutical company’s stock valued at $685,000 after acquiring an additional 4,415 shares in the last quarter. State of Wisconsin Investment Board increased its position in Vertex Pharmaceuticals by 25.8% in the 4th quarter. State of Wisconsin Investment Board now owns 277,370 shares of the pharmaceutical company’s stock valued at $41,567,000 after acquiring an additional 56,936 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in Vertex Pharmaceuticals by 337.6% in the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock valued at $119,000 after acquiring an additional 611 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.
Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “overweight” rating 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 note on Friday, March 2nd. HC Wainwright reaffirmed a “hold” rating and issued a $103.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $183.96.
In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 13,750 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $175.00, for a total transaction of $2,406,250.00. Following the completion of the transaction, the executive vice president now owns 60,412 shares of the company’s stock, valued at approximately $10,572,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul M. Silva sold 1,289 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $152.31, for a total value of $196,327.59. Following the transaction, the senior vice president now directly owns 17,923 shares of the company’s stock, valued at approximately $2,729,852.13. The disclosure for this sale can be found here. Insiders have sold a total of 356,966 shares of company stock valued at $57,081,624 in the last ninety days. Insiders own 1.80% of the company’s stock.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded down $0.58 during midday trading on Wednesday, reaching $174.38. 1,040,000 shares of the company traded hands, compared to its average volume of 2,030,000. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $88.90 and a twelve month high of $178.25. The firm has a market cap of $44,270.00, a P/E ratio of 167.67, a P/E/G ratio of 2.52 and a beta of 1.56.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.08. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The company had revenue of $651.63 million for the quarter, compared to analysts’ expectations of $592.49 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 42.1% compared to the same quarter last year. sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 1.67 EPS for the current fiscal year.
Vertex Pharmaceuticals announced that its board has authorized a share buyback program on Wednesday, January 31st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the pharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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