Cornerstone Capital Management Holdings LLC. trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,834 shares of the pharmaceutical company’s stock after selling 132 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Vertex Pharmaceuticals were worth $5,519,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 48.6% during the first quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock worth $55,809,000 after purchasing an additional 166,998 shares during the period. Dynamic Capital Management Ltd raised its position in shares of Vertex Pharmaceuticals by 53.8% during the first quarter. Dynamic Capital Management Ltd now owns 39,614 shares of the pharmaceutical company’s stock worth $4,332,000 after purchasing an additional 13,853 shares during the period. Delta Lloyd Asset Management N.V. acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $3,285,000. NorthCoast Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $782,000. Finally, Prudential Financial Inc. raised its position in shares of Vertex Pharmaceuticals by 12.8% during the second quarter. Prudential Financial Inc. now owns 444,725 shares of the pharmaceutical company’s stock worth $57,312,000 after purchasing an additional 50,350 shares during the period. 92.85% of the stock is currently owned by institutional investors.
Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 154.365 on Thursday. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $167.86. The company has a market cap of $38.92 billion, a P/E ratio of 148.285 and a beta of 1.73. The firm has a 50-day moving average price of $154.29 and a 200 day moving average price of $135.25.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The company had revenue of $544.10 million during the quarter, compared to analysts’ expectations of $489.95 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 26.1% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post $1.62 EPS for the current fiscal year.
VRTX has been the topic of a number of research reports. Janney Montgomery Scott raised Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Wednesday, July 19th. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research report on Tuesday, July 4th. BidaskClub lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Needham & Company LLC raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Friday, June 23rd. Finally, Stifel Nicolaus increased their price target on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $167.04.
In other Vertex Pharmaceuticals news, CMO Jeffrey Chodakewitz sold 573 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $129.85, for a total transaction of $74,404.05. Following the completion of the sale, the chief marketing officer now owns 123,084 shares of the company’s stock, valued at $15,982,457.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stuart A. Arbuckle sold 2,125 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $152.99, for a total value of $325,103.75. Following the sale, the executive vice president now directly owns 123,242 shares of the company’s stock, valued at approximately $18,854,793.58. The disclosure for this sale can be found here. Insiders have sold 518,357 shares of company stock valued at $83,154,633 in the last three months. 1.80% of the stock is currently owned by corporate insiders.
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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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