Teachers Retirement System of The State of Kentucky raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 111,396 shares of the pharmaceutical company’s stock after purchasing an additional 3,078 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Vertex Pharmaceuticals were worth $16,694,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its position in Vertex Pharmaceuticals by 337.6% during the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock valued at $119,000 after purchasing an additional 611 shares during the period. Whittier Trust Co. increased its position in Vertex Pharmaceuticals by 153.5% during the 4th quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock valued at $149,000 after purchasing an additional 600 shares during the period. FNY Managed Accounts LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $162,000. Financial Gravity Companies Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $201,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $184,000. 94.51% of the stock is owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Incorporated (VRTX) opened at $174.96 on Wednesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $88.90 and a twelve month high of $178.25. 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 stock has a market capitalization of $44,971.89, a price-to-earnings ratio of 224.21, a P/E/G ratio of 2.52 and a beta of 1.56.
Vertex Pharmaceuticals declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 31st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the pharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 4,250 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $159.00, for a total transaction of $675,750.00. Following the transaction, the executive vice president now directly owns 46,202 shares in the company, valued at approximately $7,346,118. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Graney sold 777 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $149.95, for a total value of $116,511.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,966 shares of company stock worth $57,081,624. 1.80% of the stock is owned by company insiders.
A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of Vertex Pharmaceuticals from $180.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. HC Wainwright reissued a “hold” rating and set a $103.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. BidaskClub raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Leerink Swann reaffirmed an “outperform” rating and set a $190.00 price objective (up previously from $175.00) on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. Finally, JMP Securities reaffirmed an “outperform” rating and set a $211.00 price objective (up previously from $200.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target 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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