HBK Investments L P lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,705 shares of the pharmaceutical company’s stock after selling 23,895 shares during the quarter. HBK Investments L P owned about 0.05% of Vertex Pharmaceuticals worth $20,487,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $13,077,000. Public Employees Retirement Association of Colorado increased its holdings in Vertex Pharmaceuticals by 11.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 505,441 shares of the pharmaceutical company’s stock worth $75,745,000 after buying an additional 50,973 shares during the period. IFM Investors Pty Ltd acquired a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $1,064,000. Icon Advisers Inc. Co. increased its holdings in Vertex Pharmaceuticals by 93.1% in the 3rd quarter. Icon Advisers Inc. Co. now owns 54,463 shares of the pharmaceutical company’s stock worth $8,281,000 after buying an additional 26,253 shares during the period. Finally, Caxton Associates LP acquired a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $304,000. Institutional investors own 94.51% of the company’s stock.
In other news, Director Margaret G. Mcglynn sold 10,000 shares of Vertex Pharmaceuticals stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,700,000.00. Following the transaction, the director now owns 16,312 shares in the company, valued at approximately $2,773,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul M. Silva sold 1,289 shares of Vertex Pharmaceuticals stock in a transaction on 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 owns 17,923 shares in the company, valued at approximately $2,729,852.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 343,216 shares of company stock worth $54,675,374. Insiders own 1.80% of the company’s stock.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. The company had revenue of $651.63 million for the quarter, compared to analyst estimates of $592.49 million. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The firm’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 1.67 earnings per share for the current fiscal year.
Vertex Pharmaceuticals declared that its board has approved a stock repurchase program on Wednesday, January 31st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the pharmaceutical company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have recently commented on VRTX. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 21st. Cowen reaffirmed a “buy” rating and set a $200.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, December 11th. Bank of America raised shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Friday, January 5th. Deutsche Bank began coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, December 12th. They set a “buy” rating and a $175.00 price objective on the stock. Finally, Oppenheimer raised their price objective on shares of Vertex Pharmaceuticals from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. Vertex Pharmaceuticals has an average rating of “Buy” and an average target price of $183.96.
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Vertex Pharmaceuticals Company Profile
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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