Westfield Capital Management Co. LP bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,132 shares of the pharmaceutical company’s stock, valued at approximately $513,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Danske Bank A S bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $64,417,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Vertex Pharmaceuticals by 3.8% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company’s stock worth $213,435,000 after purchasing an additional 20,053 shares during the last quarter. Leuthold Group LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $5,030,000. Legacy Capital Group California Inc. bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $956,000. Finally, ING Groep NV bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $4,695,000. 90.96% of the stock is currently owned by institutional investors.
Insider Activity at Vertex Pharmaceuticals
In related news, EVP Joy Liu sold 1,104 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the sale, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer directly owned 26,088 shares of the company’s stock, valued at $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,717 shares of company stock worth $5,309,945 over the last quarter. Insiders own 0.20% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Analysis on VRTX
Vertex Pharmaceuticals Stock Performance
Shares of VRTX stock opened at $446.83 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92. The firm has a market capitalization of $113.41 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.91 and a beta of 0.30. The stock’s 50-day simple moving average is $437.33 and its 200-day simple moving average is $451.81.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.Vertex Pharmaceuticals’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.06 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.
Vertex Pharmaceuticals Profile
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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