California State Teachers Retirement System lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 415,440 shares of the pharmaceutical company’s stock after selling 5,316 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Vertex Pharmaceuticals worth $62,258,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at $13,077,000. Public Employees Retirement Association of Colorado grew its holdings in Vertex Pharmaceuticals by 11.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 505,441 shares of the pharmaceutical company’s stock valued at $75,745,000 after purchasing an additional 50,973 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at $1,064,000. Icon Advisers Inc. Co. grew its holdings in Vertex Pharmaceuticals by 93.1% in the third quarter. Icon Advisers Inc. Co. now owns 54,463 shares of the pharmaceutical company’s stock valued at $8,281,000 after purchasing an additional 26,253 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at $304,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.
VRTX has been the topic of several research reports. TheStreet raised Vertex Pharmaceuticals from a “c+” rating to a “b-” rating in a report on Friday, March 2nd. Citigroup reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. BMO Capital Markets upped their target price on Vertex Pharmaceuticals from $184.00 to $191.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Jefferies Group reissued a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Finally, Maxim Group reissued a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $183.96.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.08. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The firm had revenue of $651.63 million for the quarter, compared to the consensus estimate of $592.49 million. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. analysts predict that Vertex Pharmaceuticals Incorporated will post 1.67 EPS for the current fiscal year.
Vertex Pharmaceuticals declared that its board has approved a share repurchase program on Wednesday, January 31st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the pharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Jeffrey M. Leiden sold 99,563 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $156.99, for a total value of $15,630,395.37. Following the transaction, the chief executive officer now directly owns 176,747 shares in the company, valued at approximately $27,747,511.53. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 in the company, valued at $10,572,100. The disclosure for this sale can be found here. Insiders have sold 356,966 shares of company stock worth $57,081,624 over the last quarter. 1.80% of the stock is currently owned by company insiders.
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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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