TIAA CREF Investment Management LLC boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 28.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,077,303 shares of the pharmaceutical company’s stock after acquiring an additional 456,290 shares during the period. TIAA CREF Investment Management LLC owned 0.82% of Vertex Pharmaceuticals worth $267,702,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Guardian Life Insurance Co. of America lifted its position in 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 valued at $105,000 after purchasing an additional 6 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Vertex Pharmaceuticals by 15.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock valued at $127,000 after purchasing an additional 132 shares during the last quarter. FNY Partners Fund LP lifted its position in Vertex Pharmaceuticals by 900.0% during the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock valued at $128,000 after purchasing an additional 900 shares during the last quarter. Dupont Capital Management Corp bought a new position in Vertex Pharmaceuticals during the second quarter valued at $186,000. Finally, State of Alaska Department of Revenue bought a new position in Vertex Pharmaceuticals during the second quarter valued at $197,000. 92.88% of the stock is owned by institutional investors.
Vertex Pharmaceuticals Incorporated (VRTX) traded down 0.94% on Tuesday, reaching $156.32. 329,113 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $155.29 and a 200-day moving average of $125.51. The stock has a market cap of $39.41 billion, a price-to-earnings ratio of 150.16 and a beta of 1.75. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $167.85.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.33. The business had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The business’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.60 EPS for the current fiscal year.
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VRTX has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Tuesday, July 4th. Needham & Company LLC upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Friday, June 23rd. BidaskClub lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $184.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Vertex Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $162.88.
In other news, EVP David Altshuler sold 1,796 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $160.00, for a total transaction of $287,360.00. Following the sale, the executive vice president now owns 107,807 shares of the company’s stock, valued at $17,249,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 28,625 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $160.93, for a total transaction of $4,606,621.25. Following the sale, the executive vice president now directly owns 119,335 shares in the company, valued at approximately $19,204,581.55. The disclosure for this sale can be found here. Insiders have sold 526,092 shares of company stock worth $84,101,702 in the last three months. Corporate insiders own 1.80% of the company’s stock.
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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