Retirement Systems of Alabama lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,773 shares of the pharmaceutical company’s stock after purchasing an additional 2,683 shares during the period. Retirement Systems of Alabama’s holdings in Vertex Pharmaceuticals were worth $23,644,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. grew its stake in Vertex Pharmaceuticals by 68.0% in the 2nd quarter. Achmea Investment Management B.V. now owns 8,668 shares of the pharmaceutical company’s stock valued at $1,116,000 after buying an additional 3,507 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at about $13,077,000. IFM Investors Pty Ltd acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at about $1,064,000. Icon Advisers Inc. Co. grew its stake in Vertex Pharmaceuticals by 93.1% in the 3rd quarter. Icon Advisers Inc. Co. now owns 54,463 shares of the pharmaceutical company’s stock valued at $8,281,000 after buying an additional 26,253 shares during the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at about $1,117,000. Institutional investors own 92.84% of the company’s stock.
In other news, CEO Jeffrey M. Leiden sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $141.35, for a total transaction of $17,668,750.00. Following the completion of the sale, the chief executive officer now owns 237,407 shares of the company’s stock, valued at approximately $33,557,479.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Amit Sachdev sold 46,172 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $158.65, for a total transaction of $7,325,187.80. Following the sale, the executive vice president now directly owns 57,835 shares of the company’s stock, valued at approximately $9,175,522.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 448,320 shares of company stock valued at $69,007,823. 1.80% of the stock is currently owned by insiders.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.08. Vertex Pharmaceuticals had a net margin of 10.59% and a return on equity of 11.02%. The company had revenue of $651.63 million during the quarter, compared to the consensus estimate of $592.49 million. During the same quarter in the prior year, the firm posted $0.35 EPS. The firm’s quarterly revenue was up 42.1% on a year-over-year basis. research analysts forecast that Vertex Pharmaceuticals Incorporated will post 1.63 earnings per share for the current year.
Vertex Pharmaceuticals announced that its Board of Directors has authorized a share buyback program on Wednesday, January 31st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the pharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
A number of research analysts recently commented on the stock. Barclays upped their price target on shares of Vertex Pharmaceuticals from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. HC Wainwright reiterated a “hold” rating and issued a $103.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 21st. Robert W. Baird reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. Finally, Citigroup reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $183.11.
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Vertex Pharmaceuticals 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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