Princeton Global Asset Management LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,395 shares of the pharmaceutical company’s stock after buying an additional 446 shares during the period. Vertex Pharmaceuticals makes up approximately 1.3% of Princeton Global Asset Management LLC’s holdings, making the stock its 21st biggest position. Princeton Global Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,245,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. First Quadrant L P CA lifted its position in Vertex Pharmaceuticals by 196.1% during the 2nd quarter. First Quadrant L P CA now owns 18,664 shares of the pharmaceutical company’s stock worth $3,423,000 after acquiring an additional 12,360 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Vertex Pharmaceuticals by 13.0% in the second quarter. Bank of New York Mellon Corp now owns 2,578,150 shares of the pharmaceutical company’s stock valued at $472,781,000 after purchasing an additional 296,068 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Vertex Pharmaceuticals by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 11,806 shares of the pharmaceutical company’s stock valued at $2,165,000 after purchasing an additional 61 shares during the last quarter. Manning & Napier Group LLC increased its stake in shares of Vertex Pharmaceuticals by 27.5% in the second quarter. Manning & Napier Group LLC now owns 383,264 shares of the pharmaceutical company’s stock worth $70,281,000 after purchasing an additional 82,670 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Vertex Pharmaceuticals by 18.8% in the second quarter. Bank of Montreal Can now owns 334,605 shares of the pharmaceutical company’s stock worth $61,359,000 after purchasing an additional 52,992 shares during the period. Institutional investors own 94.87% of the company’s stock.
Shares of NASDAQ VRTX traded up $0.34 during trading hours on Tuesday, reaching $221.13. The stock had a trading volume of 950,441 shares, compared to its average volume of 1,292,485. The company has a market cap of $57.02 billion, a price-to-earnings ratio of 78.14, a PEG ratio of 2.03 and a beta of 1.49. Vertex Pharmaceuticals Incorporated has a twelve month low of $151.80 and a twelve month high of $223.73. The business’s fifty day moving average is $200.93 and its two-hundred day moving average is $181.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.44 and a quick ratio of 3.32.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.36. The firm had revenue of $949.83 million for the quarter, compared to the consensus estimate of $942.90 million. Vertex Pharmaceuticals had a net margin of 59.24% and a return on equity of 20.33%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 earnings per share. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.72 earnings per share for the current fiscal year.
Several analysts recently weighed in on VRTX shares. Piper Jaffray Companies increased their target price on Vertex Pharmaceuticals from $230.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird set a $210.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada set a $213.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, August 12th. Bank of America began coverage on Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “buy” rating and a $220.00 price objective for the company. Finally, BidaskClub upgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Vertex Pharmaceuticals currently has an average rating of “Buy” and an average price target of $219.07.
In related news, Director Sangeeta N. Bhatia sold 8,379 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.80, for a total value of $1,397,617.20. Following the sale, the director now owns 7,810 shares of the company’s stock, valued at $1,302,708. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey M. Leiden sold 107,831 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $190.00, for a total transaction of $20,487,890.00. Following the completion of the transaction, the chief executive officer now directly owns 178,707 shares of the company’s stock, valued at approximately $33,954,330. The disclosure for this sale can be found here. In the last 90 days, insiders sold 290,475 shares of company stock valued at $56,792,441. Corporate insiders own 0.70% of the company’s stock.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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