Oppenheimer Asset Management Inc. boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 43.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,835 shares of the pharmaceutical company’s stock after purchasing an additional 11,090 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $6,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Bellevue Group AG boosted its position in Vertex Pharmaceuticals by 0.6% during the first quarter. Bellevue Group AG now owns 96,810 shares of the pharmaceutical company’s stock valued at $15,778,000 after purchasing an additional 600 shares in the last quarter. Federated Investors Inc. PA boosted its position in Vertex Pharmaceuticals by 390.6% during the first quarter. Federated Investors Inc. PA now owns 241,685 shares of the pharmaceutical company’s stock valued at $39,390,000 after purchasing an additional 192,425 shares in the last quarter. Green Valley Investors LLC boosted its position in Vertex Pharmaceuticals by 130.1% during the first quarter. Green Valley Investors LLC now owns 276,654 shares of the pharmaceutical company’s stock valued at $45,089,000 after purchasing an additional 156,400 shares in the last quarter. BlackRock Inc. boosted its position in Vertex Pharmaceuticals by 2.5% during the first quarter. BlackRock Inc. now owns 19,888,045 shares of the pharmaceutical company’s stock valued at $3,241,352,000 after purchasing an additional 478,972 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in Vertex Pharmaceuticals by 84.1% during the first quarter. Glen Harbor Capital Management LLC now owns 77,308 shares of the pharmaceutical company’s stock valued at $12,600,000 after purchasing an additional 35,310 shares in the last quarter. 93.67% of the stock is currently owned by institutional investors.
In other news, COO Ian F. Smith sold 85,093 shares of the firm’s stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $158.32, for a total value of $13,471,923.76. Following the completion of the transaction, the chief operating officer now directly owns 68,745 shares in the company, valued at $10,883,708.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Amit Sachdev sold 13,750 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $175.00, for a total value 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 $10,572,100. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,470 shares of company stock valued at $27,276,144. Company insiders own 0.75% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. TheStreet raised Vertex Pharmaceuticals from a “c+” rating to a “b-” rating in a report on Friday, March 2nd. HC Wainwright reissued a “hold” rating and issued a $103.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. BidaskClub downgraded Vertex Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 9th. Finally, Citigroup reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. Vertex Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $184.54.
Shares of Vertex Pharmaceuticals opened at $156.28 on Wednesday, MarketBeat Ratings reports. Vertex Pharmaceuticals Incorporated has a 52-week low of $115.10 and a 52-week high of $178.25. The stock has a market capitalization of $39.81 billion, a PE ratio of 195.35, a PEG ratio of 1.91 and a beta of 1.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.53.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, April 26th. The pharmaceutical company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.13. Vertex Pharmaceuticals had a return on equity of 15.28% and a net margin of 9.36%. The firm had revenue of $641.00 million during the quarter, compared to analysts’ expectations of $626.05 million. During the same period last year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. equities analysts predict that Vertex Pharmaceuticals Incorporated will post 1.95 earnings per share for the current fiscal year.
Vertex Pharmaceuticals declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 31st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the pharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Vertex Pharmaceuticals 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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