Meadow Creek Investment Management LLC lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,906 shares of the pharmaceutical company’s stock after selling 1,802 shares during the period. Meadow Creek Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $9,727,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in VRTX. Picton Mahoney Asset Management acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $13,077,000. Public Employees Retirement Association of Colorado raised its position in shares of Vertex Pharmaceuticals by 11.2% during 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 purchasing an additional 50,973 shares during the period. IFM Investors Pty Ltd acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $1,064,000. Icon Advisers Inc. Co. raised its position in shares of Vertex Pharmaceuticals by 93.1% during the 3rd quarter. Icon Advisers Inc. Co. now owns 54,463 shares of the pharmaceutical company’s stock worth $8,281,000 after purchasing an additional 26,253 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $304,000. 94.51% of the stock is currently owned by institutional investors.
VRTX has been the topic of a number of research reports. HC Wainwright reiterated a “hold” rating and set a $103.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 13th. Deutsche Bank initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $175.00 price target on the stock. Oppenheimer increased their price target on Vertex Pharmaceuticals from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. BidaskClub upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Bank of America reiterated a “buy” rating and set a $180.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, January 23rd. Two 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $183.96.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. The firm had revenue of $651.63 million during 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 quarterly revenue was up 42.1% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 1.67 earnings per share for the current year.
Vertex Pharmaceuticals announced that its board has authorized a stock repurchase program on Wednesday, January 31st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the pharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 13,750 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $175.00, for a total transaction of $2,406,250.00. Following the completion of the transaction, the executive vice president now directly owns 60,412 shares of the company’s stock, valued at approximately $10,572,100. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Paul M. Silva sold 1,289 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $152.31, for a total value of $196,327.59. Following the transaction, the senior vice president now directly owns 17,923 shares of the company’s stock, valued at $2,729,852.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,966 shares of company stock valued at $57,081,624. 1.80% of the stock is currently owned by corporate insiders.
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Vertex Pharmaceuticals 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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