Scotia Capital Inc. lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,970 shares of the pharmaceutical company’s stock after selling 1,795 shares during the quarter. Scotia Capital Inc.’s holdings in Vertex Pharmaceuticals were worth $2,187,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America lifted its holdings in shares of Vertex Pharmaceuticals by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 6 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Vertex Pharmaceuticals by 15.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock worth $127,000 after buying an additional 132 shares in the last quarter. FNY Partners Fund LP lifted its holdings in shares of Vertex Pharmaceuticals by 900.0% during the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock worth $128,000 after buying an additional 900 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $186,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $197,000. 92.85% of the stock is owned by institutional investors.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. Vertex Pharmaceuticals’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS.
In related news, CEO Jeffrey M. Leiden sold 216,624 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the transaction, the chief executive officer now directly owns 400,266 shares of the company’s stock, valued at approximately $64,426,815.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ian F. Smith sold 133,750 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $160.98, for a total value of $21,531,075.00. Following the transaction, the chief financial officer now directly owns 151,738 shares in the company, valued at $24,426,783.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 518,357 shares of company stock worth $83,154,633. 1.80% of the stock is currently owned by insiders.
VRTX has been the subject 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 for the company in a report on Wednesday, July 19th. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a report on Tuesday, July 4th. BidaskClub downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note 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 note on Friday, June 23rd. Finally, Stifel Nicolaus boosted their price target on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research note 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 issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $167.04.
Vertex Pharmaceuticals Company 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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