Amit Sachdev Sells 5,000 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Amit Sachdev sold 5,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $215.00, for a total value of $1,075,000.00. Following the completion of the sale, the executive vice president now owns 38,416 shares of the company’s stock, valued at $8,259,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Amit Sachdev also recently made the following trade(s):

  • On Monday, November 4th, Amit Sachdev sold 4,097 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $200.34, for a total value of $820,792.98.
  • On Friday, October 25th, Amit Sachdev sold 4,311 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $197.89, for a total value of $853,103.79.
  • On Tuesday, October 22nd, Amit Sachdev sold 3,883 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $190.27, for a total value of $738,818.41.

Shares of NASDAQ:VRTX traded up $1.31 during mid-day trading on Friday, reaching $216.81. 38,197 shares of the stock were exchanged, compared to its average volume of 1,441,147. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 0.12. The company has a market cap of $55.29 billion, a P/E ratio of 76.61, a P/E/G ratio of 2.00 and a beta of 1.46. Vertex Pharmaceuticals Incorporated has a one year low of $151.80 and a one year high of $217.08. The stock’s 50 day simple moving average is $190.13 and its 200-day simple moving average is $179.05.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.36. The business had revenue of $949.83 million during the quarter, compared to the consensus estimate of $942.90 million. Vertex Pharmaceuticals had a return on equity of 20.33% and a net margin of 59.24%. Vertex Pharmaceuticals’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.72 EPS for the current fiscal year.

Vertex Pharmaceuticals declared that its board has initiated a share buyback program on Wednesday, July 31st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the pharmaceutical company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Several large investors have recently bought and sold shares of VRTX. Municipal Employees Retirement System of Michigan boosted its position in Vertex Pharmaceuticals by 0.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,430 shares of the pharmaceutical company’s stock valued at $1,089,000 after purchasing an additional 60 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Vertex Pharmaceuticals by 0.5% during the second quarter. Daiwa Securities Group Inc. now owns 11,806 shares of the pharmaceutical company’s stock valued at $2,165,000 after purchasing an additional 61 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Vertex Pharmaceuticals by 3.6% during the third quarter. Quadrant Capital Group LLC now owns 1,877 shares of the pharmaceutical company’s stock valued at $305,000 after purchasing an additional 65 shares during the last quarter. Victory Capital Management Inc. boosted its position in Vertex Pharmaceuticals by 0.4% during the second quarter. Victory Capital Management Inc. now owns 19,094 shares of the pharmaceutical company’s stock valued at $3,501,000 after purchasing an additional 67 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its position in Vertex Pharmaceuticals by 11.2% during the third quarter. Kistler Tiffany Companies LLC now owns 683 shares of the pharmaceutical company’s stock valued at $116,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 93.47% of the company’s stock.

VRTX has been the subject of several recent analyst reports. Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, November 1st. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Piper Jaffray Companies increased their price target on Vertex Pharmaceuticals from $230.00 to $247.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. ValuEngine upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Leerink Swann increased their price target on Vertex Pharmaceuticals from $186.00 to $203.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $221.89.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Insider Buying and Selling by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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