Advisor Partners LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,640 shares of the pharmaceutical company’s stock after acquiring an additional 225 shares during the quarter. Advisor Partners LLC’s holdings in Vertex Pharmaceuticals were worth $956,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Next Capital Management LLC boosted its holdings in Vertex Pharmaceuticals by 84.4% during the second quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock worth $30,000 after buying an additional 76 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $32,000. Patriot Financial Group Insurance Agency LLC boosted its stake in Vertex Pharmaceuticals by 118.5% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 96 shares during the period. HM Payson & Co. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $35,000. Finally, Captrust Financial Advisors boosted its stake in Vertex Pharmaceuticals by 204.1% in the 2nd quarter. Captrust Financial Advisors now owns 222 shares of the pharmaceutical company’s stock worth $41,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.
Shares of Vertex Pharmaceuticals stock traded up $5.48 during trading on Friday, hitting $201.31. 1,219,800 shares of the company’s stock traded hands, compared to its average volume of 1,293,262. The firm’s fifty day moving average price is $181.35 and its 200 day moving average price is $176.85. Vertex Pharmaceuticals Incorporated has a twelve month low of $151.80 and a twelve month high of $202.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.44 and a quick ratio of 3.32. The company has a market cap of $50.69 billion, a PE ratio of 71.13, a PEG ratio of 1.84 and a beta of 1.46.
Vertex Pharmaceuticals announced that its board has approved a stock repurchase program on Wednesday, July 31st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the pharmaceutical company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, CEO Jeffrey M. Leiden sold 107,831 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $190.00, for a total transaction of $20,487,890.00. Following the sale, the chief executive officer now directly owns 178,707 shares in the company, valued at approximately $33,954,330. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 8,379 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.80, for a total transaction of $1,397,617.20. Following the sale, the director now owns 7,810 shares in the company, valued at $1,302,708. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,596 shares of company stock worth $54,030,128. 0.70% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on VRTX shares. JPMorgan Chase & Co. set a $218.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group set a $220.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 21st. Maxim Group reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, November 1st. Robert W. Baird set a $210.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, BMO Capital Markets set a $232.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus price target of $216.12.
Vertex Pharmaceuticals 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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