Victory Capital Management Inc. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 552,729 shares of the pharmaceutical company’s stock after selling 32,147 shares during the quarter. Victory Capital Management Inc. owned about 0.21% of Vertex Pharmaceuticals worth $150,408,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Newfound Research LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $29,000. Anderson Fisher LLC raised its stake in Vertex Pharmaceuticals by 530.0% in the 2nd quarter. Anderson Fisher LLC now owns 126 shares of the pharmaceutical company’s stock valued at $37,000 after purchasing an additional 106 shares during the last quarter. Norway Savings Bank acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $39,000. Duncker Streett & Co. Inc. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $44,000. Finally, Baystate Wealth Management LLC raised its stake in Vertex Pharmaceuticals by 37.3% in the 2nd quarter. Baystate Wealth Management LLC now owns 151 shares of the pharmaceutical company’s stock valued at $44,000 after purchasing an additional 41 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.
Vertex Pharmaceuticals stock traded down $1.53 during midday trading on Tuesday, reaching $222.74. 12,085 shares of the stock traded hands, compared to its average volume of 1,848,807. The company has a 50-day simple moving average of $234.30 and a two-hundred day simple moving average of $266.05. Vertex Pharmaceuticals Incorporated has a 12-month low of $197.47 and a 12-month high of $306.08. The firm has a market cap of $58.32 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.25 and a beta of 0.79. The company has a current ratio of 3.72, a quick ratio of 3.60 and a debt-to-equity ratio of 0.07.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Thursday, October 29th. The pharmaceutical company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.68. Vertex Pharmaceuticals had a return on equity of 28.55% and a net margin of 38.51%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business posted $1.23 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 61.9% on a year-over-year basis. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 8.5 earnings per share for the current year.
A number of analysts have issued reports on the company. UBS Group assumed coverage on Vertex Pharmaceuticals in a research note on Wednesday, October 28th. They issued a “buy” rating and a $287.00 target price for the company. Morgan Stanley cut their target price on Vertex Pharmaceuticals from $281.00 to $249.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Truist cut their target price on Vertex Pharmaceuticals from $330.00 to $305.00 in a research note on Thursday, October 15th. Cantor Fitzgerald raised their target price on Vertex Pharmaceuticals from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Sunday, November 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus price target of $291.14.
In related news, Director Bruce I. Sachs purchased 15,000 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, November 10th. The shares were bought at an average price of $217.36 per share, with a total value of $3,260,400.00. Following the transaction, the director now directly owns 18,035 shares of the company’s stock, valued at $3,920,087.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stuart A. Arbuckle sold 1,553 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $211.92, for a total value of $329,111.76. Following the completion of the sale, the executive vice president now directly owns 36,732 shares in the company, valued at approximately $7,784,245.44. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
Vertex Pharmaceuticals Company Profile
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; and TRIKAFTA for the treatment of patients with CF 12 years of age or older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator, or CFTR, gene.
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