Institute for Wealth Management LLC. Sells 267 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Share on StockTwits

Institute for Wealth Management LLC. lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,681 shares of the pharmaceutical company’s stock after selling 267 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Vertex Pharmaceuticals were worth $858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Next Capital Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 84.4% in the 2nd quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock valued at $30,000 after acquiring an additional 76 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $32,000. FTB Advisors Inc. raised its holdings in shares of Vertex Pharmaceuticals by 1,618.2% during the 1st quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 178 shares in the last quarter. Pittenger & Anderson Inc. raised its holdings in shares of Vertex Pharmaceuticals by 64.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 75 shares in the last quarter. Finally, Thor Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 94.00% of the company’s stock.

A number of equities analysts have commented on VRTX shares. Royal Bank of Canada set a $213.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and issued a $220.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, August 1st. ValuEngine raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $212.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, August 1st. Finally, Piper Jaffray Companies lifted their price target on Vertex Pharmaceuticals from $217.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $206.95.

Shares of VRTX stock traded up $2.13 during trading hours on Monday, reaching $187.07. The company’s stock had a trading volume of 11,655 shares, compared to its average volume of 1,462,886. The stock has a market capitalization of $46.55 billion, a P/E ratio of 65.97, a P/E/G ratio of 2.36 and a beta of 1.40. Vertex Pharmaceuticals Incorporated has a one year low of $151.80 and a one year high of $195.81. The firm’s fifty day simple moving average is $177.09 and its 200 day simple moving average is $178.45. The company has a current ratio of 3.74, a quick ratio of 3.63 and a debt-to-equity ratio of 0.12.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.24. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The company had revenue of $941.29 million for the quarter, compared to analyst estimates of $884.66 million. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue was up 25.1% on a year-over-year basis. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.41 earnings per share for the current fiscal year.

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

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 2,125 shares of the business’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $181.89, for a total value of $386,516.25. Following the sale, the executive vice president now directly owns 35,365 shares of the company’s stock, valued at $6,432,539.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 720 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $167.08, for a total value of $120,297.60. Following the completion of the sale, the director now directly owns 7,260 shares in the company, valued at $1,213,000.80. The disclosure for this sale can be found here. Insiders have sold 195,292 shares of company stock worth $34,357,560 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

About Vertex Pharmaceuticals

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.

See Also: Moving Average (MA)

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Frontier Communications   Shares Down 7.3%
Frontier Communications Shares Down 7.3%
Seagate Technology   Shares Down 6.7%
Seagate Technology Shares Down 6.7%
Bruker Co.  Shares Bought by D. E. Shaw & Co. Inc.
Bruker Co. Shares Bought by D. E. Shaw & Co. Inc.
D. E. Shaw & Co. Inc. Lowers Stake in Aramark
D. E. Shaw & Co. Inc. Lowers Stake in Aramark
Synopsys, Inc.  Holdings Trimmed by D. E. Shaw & Co. Inc.
Synopsys, Inc. Holdings Trimmed by D. E. Shaw & Co. Inc.
Cadence Design Systems Inc  Stock Holdings Lifted by D. E. Shaw & Co. Inc.
Cadence Design Systems Inc Stock Holdings Lifted by D. E. Shaw & Co. Inc.


© 2006-2019 Ticker Report