Pennsylvania Trust Co grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 79.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,600 shares of the pharmaceutical company’s stock after buying an additional 1,155 shares during the quarter. Pennsylvania Trust Co’s holdings in Vertex Pharmaceuticals were worth $390,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. lifted its position in shares of Vertex Pharmaceuticals by 68.0% in the second quarter. Achmea Investment Management B.V. now owns 8,668 shares of the pharmaceutical company’s stock valued at $1,116,000 after acquiring an additional 3,507 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $13,077,000. IFM Investors Pty Ltd purchased a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $1,064,000. Janus Henderson Group PLC lifted its position in shares of Vertex Pharmaceuticals by 1,191.3% in the second quarter. Janus Henderson Group PLC now owns 448,975 shares of the pharmaceutical company’s stock valued at $57,860,000 after acquiring an additional 414,206 shares in the last quarter. Finally, Icon Advisers Inc. Co. lifted its position in Vertex Pharmaceuticals by 93.1% during the third quarter. Icon Advisers Inc. Co. now owns 54,463 shares of the pharmaceutical company’s stock worth $8,281,000 after buying an additional 26,253 shares in the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.
In other news, EVP Stuart A. Arbuckle sold 6,290 shares of Vertex Pharmaceuticals stock in a transaction on Friday, October 27th. The stock was sold at an average price of $143.97, for a total value of $905,571.30. Following the completion of the sale, the executive vice president now directly owns 116,952 shares of the company’s stock, valued at $16,837,579.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey M. Leiden sold 99,563 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $156.99, for a total value of $15,630,395.37. Following the completion of the sale, the chief executive officer now directly owns 176,747 shares of the company’s stock, valued at $27,747,511.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 458,028 shares of company stock valued at $67,470,259. 1.80% of the stock is owned by insiders.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.49. The company had revenue of $578.20 million during the quarter, compared to analysts’ expectations of $522.07 million. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. equities analysts expect that Vertex Pharmaceuticals Incorporated will post 0.76 EPS for the current year.
VRTX has been the topic of a number of analyst reports. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. DA Davidson initiated coverage on Vertex Pharmaceuticals in a research report on Friday, September 29th. They set a “buy” rating and a $200.00 price objective on the stock. BMO Capital Markets reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, September 27th. Deutsche Bank initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $175.00 price objective on the stock. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $205.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $175.89.
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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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