Schwab Charles Investment Management Inc. Purchases 150,310 Shares of Vertex Pharmaceuticals Incorporated (VRTX)
Schwab Charles Investment Management Inc. boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.4% during the second quarter, Holdings Channel reports. The institutional investor owned 888,859 shares of the pharmaceutical company’s stock after buying an additional 150,310 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Vertex Pharmaceuticals were worth $114,548,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of VRTX. BlackRock Inc. increased its stake in Vertex Pharmaceuticals by 2,699.4% in the first quarter. BlackRock Inc. now owns 19,246,380 shares of the pharmaceutical company’s stock worth $2,104,591,000 after buying an additional 18,558,874 shares during the period. Vanguard Group Inc. increased its stake in Vertex Pharmaceuticals by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,474,890 shares of the pharmaceutical company’s stock worth $1,801,530,000 after buying an additional 560,796 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $46,278,000. Marshall Wace North America L.P. bought a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $46,278,000. Finally, Westfield Capital Management Co. LP bought a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $38,915,000. Hedge funds and other institutional investors own 94.89% of the company’s stock.
Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at 154.49 on Tuesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $167.85. The stock has a 50 day moving average of $144.45 and a 200-day moving average of $116.40. The firm has a market capitalization of $38.95 billion, a PE ratio of 148.41 and a beta of 1.77.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The business had revenue of $544.10 million during the quarter, compared to analysts’ expectations of $489.95 million. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue was up 26.1% on a year-over-year basis. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.60 earnings per share for the current fiscal year.
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A number of research firms have commented on VRTX. Maxim Group set a $195.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, July 27th. J P Morgan Chase & Co set a $184.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. boosted their price target on shares of Vertex Pharmaceuticals from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Morgan Stanley restated an “overweight” rating and set a $190.00 price target (up from $153.00) on shares of Vertex Pharmaceuticals in a research report on Saturday, July 22nd. Finally, Vetr downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $181.00 price target on the stock. in a research report on Monday, July 24th. Five analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $162.88.
In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 43,443 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $161.07, for a total transaction of $6,997,364.01. Following the completion of the sale, the senior vice president now owns 26,516 shares of the company’s stock, valued at approximately $4,270,932.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jeffrey Chodakewitz sold 573 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $129.85, for a total value of $74,404.05. Following the sale, the chief marketing officer now directly owns 123,084 shares of the company’s stock, valued at approximately $15,982,457.40. The disclosure for this sale can be found here. Insiders sold 751,042 shares of company stock valued at $113,078,257 over the last three months. 1.80% of the stock is owned by company insiders.
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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