Utah Retirement Systems Boosts Stake in Vertex Pharmaceuticals Incorporated (VRTX)
Utah Retirement Systems raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,527 shares of the pharmaceutical company’s stock after buying an additional 500 shares during the period. Utah Retirement Systems’ holdings in Vertex Pharmaceuticals were worth $5,867,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in VRTX. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Vertex Pharmaceuticals by 13.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,250 shares of the pharmaceutical company’s stock worth $7,378,000 after buying an additional 6,788 shares during the last quarter. Airain ltd acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $4,620,000. Andra AP fonden acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $1,237,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Vertex Pharmaceuticals by 1,526.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 15,633 shares of the pharmaceutical company’s stock worth $2,013,000 after buying an additional 14,672 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $1,334,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 153.27 on Monday. The firm has a 50-day moving average price of $149.67 and a 200 day moving average price of $120.19. Vertex Pharmaceuticals Incorporated has a 12 month low of $71.46 and a 12 month high of $167.85. The company has a market capitalization of $38.64 billion, a P/E ratio of 147.23 and a beta of 1.77.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.33. The firm had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The business’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. Analysts expect that Vertex Pharmaceuticals Incorporated will post $1.60 EPS for the current year.
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A number of brokerages have commented on VRTX. Jefferies Group LLC restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 22nd. BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Cowen and Company restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 1st. Finally, Argus raised their price objective on Vertex Pharmaceuticals from $71.46 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Six research 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $162.88.
In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 1,289 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $152.88, for a total transaction of $197,062.32. Following the sale, the senior vice president now owns 17,923 shares in the company, valued at $2,740,068.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Amit Sachdev sold 28,625 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $160.93, for a total value of $4,606,621.25. Following the sale, the executive vice president now owns 119,335 shares in the company, valued at approximately $19,204,581.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 751,042 shares of company stock worth $113,078,257. Company insiders own 1.80% 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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