First Hawaiian Bank raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 38.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,232 shares of the pharmaceutical company’s stock after acquiring an additional 1,453 shares during the quarter. First Hawaiian Bank’s holdings in Vertex Pharmaceuticals were worth $1,146,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Carroll Financial Associates Inc. raised its holdings in Vertex Pharmaceuticals by 23.5% in the fourth quarter. Carroll Financial Associates Inc. now owns 263 shares of the pharmaceutical company’s stock worth $57,000 after purchasing an additional 50 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Vertex Pharmaceuticals by 0.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,430 shares of the pharmaceutical company’s stock worth $1,089,000 after buying an additional 60 shares during the last quarter. Cleararc Capital Inc. grew its position in shares of Vertex Pharmaceuticals by 1.7% in the 3rd quarter. Cleararc Capital Inc. now owns 3,870 shares of the pharmaceutical company’s stock worth $656,000 after buying an additional 64 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Vertex Pharmaceuticals by 3.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,877 shares of the pharmaceutical company’s stock worth $305,000 after acquiring an additional 65 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Vertex Pharmaceuticals by 3.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,776 shares of the pharmaceutical company’s stock worth $301,000 after acquiring an additional 66 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director William D. Young sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $218.93, for a total value of $4,378,600.00. Following the completion of the transaction, the director now directly owns 29,311 shares in the company, valued at $6,417,057.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey M. Leiden sold 107,831 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $190.00, for a total value of $20,487,890.00. Following the sale, the chief executive officer now directly owns 178,707 shares of the company’s stock, valued at approximately $33,954,330. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,413 shares of company stock worth $71,389,660. Company insiders own 0.70% of the company’s stock.
Shares of VRTX opened at $229.75 on Wednesday. The firm has a market capitalization of $58.87 billion, a PE ratio of 81.18, a price-to-earnings-growth ratio of 1.32 and a beta of 1.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.44 and a quick ratio of 3.32. Vertex Pharmaceuticals Incorporated has a 1-year low of $163.68 and a 1-year high of $233.26. The company’s fifty day moving average price is $221.65 and its 200-day moving average price is $192.38.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.36. Vertex Pharmaceuticals had a return on equity of 20.33% and a net margin of 59.24%. The company had revenue of $949.83 million during the quarter, compared to analyst estimates of $942.90 million. During the same quarter last year, the business posted $1.09 EPS. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.72 EPS for the current fiscal year.
Several equities research analysts have weighed in on VRTX shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday. ValuEngine downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. BMO Capital Markets upped their price target on Vertex Pharmaceuticals from to in a research report on Thursday, January 9th. Jefferies Financial Group set a $220.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Leerink Swann raised their price objective on Vertex Pharmaceuticals from $186.00 to $203.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $228.54.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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