DE Burlo Group Inc. Reduces Position in Vertex Pharmaceuticals Incorporated (VRTX)
DE Burlo Group Inc. cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 49.7% during the 4th quarter, HoldingsChannel reports. The firm owned 17,900 shares of the pharmaceutical company’s stock after selling 17,700 shares during the period. DE Burlo Group Inc.’s holdings in Vertex Pharmaceuticals were worth $2,682,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smithfield Trust Co. bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $135,000. Whittier Trust Co. boosted its position in shares of Vertex Pharmaceuticals by 153.5% during the fourth quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock valued at $149,000 after purchasing an additional 600 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $162,000. Baldwin Brothers Inc. MA purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at $184,000. Finally, SeaCrest Wealth Management LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at $184,000. Institutional investors own 92.84% of the company’s stock.
A number of research analysts have issued reports on the company. Leerink Swann reiterated an “outperform” rating and set a $190.00 price objective (up previously from $175.00) on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. BMO Capital Markets lifted their price objective on Vertex Pharmaceuticals from $184.00 to $191.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Barclays lifted their price objective on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Jefferies Group reiterated a “buy” rating and set a $195.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Finally, Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Two investment 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 stock. The company currently has an average rating of “Buy” and an average price target of $183.11.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.08. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The firm had revenue of $651.63 million during the quarter, compared to analysts’ expectations of $592.49 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. The company’s revenue was up 42.1% on a year-over-year basis. research analysts expect that Vertex Pharmaceuticals Incorporated will post 1.63 EPS for the current fiscal year.
Vertex Pharmaceuticals announced that its board has approved a share repurchase plan on Wednesday, January 31st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the pharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In other news, CFO Thomas Graney sold 777 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $149.95, for a total value of $116,511.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Jeffrey Chodakewitz sold 3,594 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $161.46, for a total value of $580,287.24. Following the sale, the chief marketing officer now owns 56,118 shares of the company’s stock, valued at approximately $9,060,812.28. The disclosure for this sale can be found here. Insiders sold 402,944 shares of company stock valued at $62,121,632 in the last 90 days. 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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