Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CFO Sells $21,531,075.00 in Stock
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CFO Ian F. Smith sold 133,750 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $160.98, for a total value of $21,531,075.00. Following the completion of the transaction, the chief financial officer now directly owns 151,738 shares of the company’s stock, valued at $24,426,783.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded down 0.28% on Friday, hitting $148.13. The company had a trading volume of 887,138 shares. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $167.86. The stock has a market capitalization of $37.35 billion, a PE ratio of 142.30 and a beta of 1.77. The stock has a 50 day moving average of $146.73 and a 200-day moving average of $117.81.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.33. The business had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. Vertex Pharmaceuticals’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.60 EPS for the current year.
A number of research analysts have issued reports on the company. UBS AG reissued a “buy” rating and set a $135.00 price objective (up from $132.00) on shares of Vertex Pharmaceuticals in a report on Friday, May 19th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Sunday, April 30th. Stifel Nicolaus lifted their price objective on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Robert W. Baird reissued an “outperform” rating and set a $171.00 price objective (up from $136.00) on shares of Vertex Pharmaceuticals in a report on Friday, July 21st. Finally, BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Vertex Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $162.88.
Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Vertex Pharmaceuticals by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 267,437 shares of the pharmaceutical company’s stock valued at $19,703,000 after buying an additional 8,524 shares during the last quarter. Canal Insurance CO raised its stake in shares of Vertex Pharmaceuticals by 100.0% in the fourth quarter. Canal Insurance CO now owns 40,000 shares of the pharmaceutical company’s stock valued at $2,947,000 after buying an additional 20,000 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 343,375 shares of the pharmaceutical company’s stock valued at $25,296,000 after buying an additional 12,707 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $1,326,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $592,000. Hedge funds and other institutional investors own 94.89% of the company’s stock.
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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