Hartford Investment Management Co. lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 39.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,031 shares of the pharmaceutical company’s stock after selling 19,440 shares during the period. Hartford Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $5,104,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of VRTX. Massachusetts Financial Services Co. MA bought a new position in Vertex Pharmaceuticals in the 1st quarter worth $247,701,000. Summit Trail Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 11,575.0% in the 1st quarter. Summit Trail Advisors LLC now owns 956,067 shares of the pharmaceutical company’s stock worth $956,000 after buying an additional 947,878 shares during the period. BlackRock Inc. boosted its holdings in Vertex Pharmaceuticals by 2.5% in the 1st quarter. BlackRock Inc. now owns 19,888,045 shares of the pharmaceutical company’s stock worth $3,241,352,000 after buying an additional 478,972 shares during the period. Royal Bank of Canada boosted its holdings in Vertex Pharmaceuticals by 69.3% in the 1st quarter. Royal Bank of Canada now owns 567,351 shares of the pharmaceutical company’s stock worth $92,465,000 after buying an additional 232,183 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Vertex Pharmaceuticals by 139.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 364,768 shares of the pharmaceutical company’s stock worth $61,996,000 after buying an additional 212,481 shares during the period. 93.38% of the stock is owned by institutional investors.
Get Vertex Pharmaceuticals alerts:VRTX has been the subject of several recent analyst reports. Argus set a $172.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, June 12th. They noted that the move was a valuation call. ValuEngine raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Cowen reaffirmed a “buy” rating and issued a $200.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, April 27th. Maxim Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, April 27th. Finally, Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Friday, April 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $189.42.
In other Vertex Pharmaceuticals news, EVP Michael Parini sold 2,330 shares of the business’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $149.50, for a total value of $348,335.00. Following the sale, the executive vice president now owns 41,939 shares in the company, valued at approximately $6,269,880.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 4,096 shares of the business’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $167.63, for a total transaction of $686,612.48. Following the completion of the sale, the executive vice president now owns 48,603 shares in the company, valued at approximately $8,147,320.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,198 shares of company stock worth $52,264,134. Corporate insiders own 1.80% of the company’s stock.
Shares of VRTX stock opened at $177.40 on Friday. The firm has a market capitalization of $46.16 billion, a price-to-earnings ratio of 221.75, a P/E/G ratio of 2.37 and a beta of 1.42. Vertex Pharmaceuticals Incorporated has a 52 week low of $136.50 and a 52 week high of $183.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 3.68.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, April 26th. The pharmaceutical company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.63 by $0.13. The business had revenue of $641.00 million for the quarter, compared to analysts’ expectations of $626.05 million. Vertex Pharmaceuticals had a net margin of 9.36% and a return on equity of 15.28%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. equities analysts expect that Vertex Pharmaceuticals Incorporated will post 1.94 earnings per share for the current fiscal year.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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