Bamco Inc. NY Increases Holdings in Vertex Pharmaceuticals Incorporated (VRTX)
Bamco Inc. NY boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 45.6% during the 4th quarter, Holdings Channel reports. The firm owned 43,371 shares of the pharmaceutical company’s stock after purchasing an additional 13,588 shares during the period. Bamco Inc. NY’s holdings in Vertex Pharmaceuticals were worth $6,500,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in VRTX. Nationwide Fund Advisors boosted its position in Vertex Pharmaceuticals by 48.6% in the third quarter. Nationwide Fund Advisors now owns 173,157 shares of the pharmaceutical company’s stock worth $26,327,000 after purchasing an additional 56,646 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Vertex Pharmaceuticals by 338.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 28,356 shares of the pharmaceutical company’s stock worth $4,311,000 after purchasing an additional 21,887 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in Vertex Pharmaceuticals in the third quarter worth about $636,000. Daiwa Securities Group Inc. boosted its position in Vertex Pharmaceuticals by 5.5% in the third quarter. Daiwa Securities Group Inc. now owns 7,561 shares of the pharmaceutical company’s stock worth $1,150,000 after purchasing an additional 391 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Vertex Pharmaceuticals by 2.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 26,536 shares of the pharmaceutical company’s stock worth $4,035,000 after purchasing an additional 743 shares during the last quarter. 93.53% of the stock is currently owned by institutional investors and hedge funds.
VRTX has been the topic of several recent research reports. Leerink Swann reaffirmed an “outperform” rating and issued a $190.00 price objective (up previously from $175.00) on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. TheStreet raised Vertex Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Friday, March 2nd. Maxim Group raised their price objective on Vertex Pharmaceuticals from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, March 5th. BMO Capital Markets raised their price objective on Vertex Pharmaceuticals from $184.00 to $191.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus price target of $183.96.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.08. The business had revenue of $651.63 million during the quarter, compared to analysts’ expectations of $592.49 million. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 1.67 earnings per share for the current fiscal year.
Vertex Pharmaceuticals declared that its board has authorized a stock 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 buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $141.35, for a total transaction of $17,668,750.00. Following the completion of the transaction, the chief executive officer now owns 237,407 shares in the company, valued at approximately $33,557,479.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret G. Mcglynn sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $170.00, for a total value of $1,700,000.00. Following the transaction, the director now owns 16,312 shares of the company’s stock, valued at approximately $2,773,040. The disclosure for this sale can be found here. Insiders have sold a total of 468,216 shares of company stock valued at $72,344,124 in the last 90 days. 1.80% of the stock is currently owned by company insiders.
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Vertex Pharmaceuticals Profile
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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