Vestcor Inc increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,690 shares of the pharmaceutical company’s stock after purchasing an additional 1,424 shares during the period. Vestcor Inc’s holdings in Vertex Pharmaceuticals were worth $16,634,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Vanguard Group Inc. lifted its stake in shares of Vertex Pharmaceuticals by 1.0% in the third quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock worth $9,484,293,000 after buying an additional 243,088 shares in the last quarter. Capital Research Global Investors raised its position in shares of Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock valued at $6,482,978,000 after buying an additional 444,990 shares during the period. Capital International Investors lifted its stake in shares of Vertex Pharmaceuticals by 77.9% in the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock valued at $1,836,550,000 after purchasing an additional 2,053,156 shares during the last quarter. Alliancebernstein L.P. lifted its position in Vertex Pharmaceuticals by 3.3% in the third quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company’s stock valued at $1,771,226,000 after buying an additional 144,266 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $1,440,149,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on VRTX shares. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price for the company in a report on Wednesday, March 18th. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. HC Wainwright raised their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Oppenheimer boosted their target price on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Finally, Truist Financial started coverage on shares of Vertex Pharmaceuticals in a research note on Wednesday, May 27th. They set a “buy” rating and a $542.00 price target for the company. Twenty-two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $555.91.
Insider Buying and Selling
In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the sale, the chief marketing officer directly owned 26,088 shares in the company, valued at approximately $11,739,600. The trade was a 21.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,717 shares of company stock worth $5,309,945 in the last three months. Corporate insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Stock Performance
Vertex Pharmaceuticals stock opened at $446.83 on Friday. The company has a market cap of $113.41 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The business has a fifty day moving average of $437.33 and a two-hundred day moving average of $451.81.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.06 earnings per share. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.
Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.
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