TIAA CREF Investment Management LLC lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,891,482 shares of the pharmaceutical company’s stock after selling 267,106 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.75% of Vertex Pharmaceuticals worth $283,457,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC grew its holdings in shares of Vertex Pharmaceuticals by 337.6% during the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock worth $119,000 after purchasing an additional 611 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Vertex Pharmaceuticals by 153.5% during the 4th quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock worth $149,000 after purchasing an additional 600 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $162,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $184,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $184,000. 94.51% of the stock is currently owned by institutional investors.
VRTX has been the topic of several recent research reports. HC Wainwright reissued a “hold” rating and set a $103.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 13th. Deutsche Bank initiated coverage on Vertex Pharmaceuticals in a report on Tuesday, December 12th. They set a “buy” rating and a $175.00 price objective on the stock. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $176.00 price objective on the stock in a report on Monday, January 8th. Oppenheimer lifted their price objective on Vertex Pharmaceuticals from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, BidaskClub raised Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 24th. Two 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 has a consensus rating of “Buy” and an average target price of $183.96.
Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at $174.96 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14. The company has a market capitalization of $44,971.89, a price-to-earnings ratio of 224.21, a price-to-earnings-growth ratio of 2.52 and a beta of 1.56. Vertex Pharmaceuticals Incorporated has a one year low of $88.90 and a one year high of $178.25.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 EPS for the quarter, topping 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 business’s revenue was up 42.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 1.67 EPS for the current year.
Vertex Pharmaceuticals announced that its board has authorized a share repurchase program on Wednesday, January 31st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the pharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership 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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