Retirement Systems of Alabama reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.2% during the second quarter, Holdings Channel reports. The fund owned 162,403 shares of the pharmaceutical company’s stock after selling 12,533 shares during the period. Retirement Systems of Alabama’s holdings in Vertex Pharmaceuticals were worth $20,929,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America raised its position in Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 6 shares during the last quarter. Elk Creek Partners LLC raised its position in Vertex Pharmaceuticals by 0.3% in the first quarter. Elk Creek Partners LLC now owns 3,120 shares of the pharmaceutical company’s stock valued at $341,000 after buying an additional 10 shares during the last quarter. Sowell Financial Services LLC raised its position in Vertex Pharmaceuticals by 0.8% in the first quarter. Sowell Financial Services LLC now owns 2,762 shares of the pharmaceutical company’s stock valued at $325,000 after buying an additional 23 shares during the last quarter. Capital Investment Advisory Services LLC raised its position in Vertex Pharmaceuticals by 0.4% in the first quarter. Capital Investment Advisory Services LLC now owns 6,463 shares of the pharmaceutical company’s stock valued at $707,000 after buying an additional 25 shares during the last quarter. Finally, First Manhattan Co. raised its position in Vertex Pharmaceuticals by 1.3% in the first quarter. First Manhattan Co. now owns 2,356 shares of the pharmaceutical company’s stock valued at $205,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Vertex Pharmaceuticals Incorporated (VRTX) opened at 154.54 on Monday. The stock has a market cap of $38.96 billion, a P/E ratio of 148.45 and a beta of 1.77. The company has a 50-day moving average price of $137.73 and a 200-day moving average price of $111.96. 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, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm’s revenue was up 26.1% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.59 earnings per share for the current year.

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Several research firms recently commented on VRTX. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Sunday, April 30th. UBS AG reiterated a “buy” rating and issued a $135.00 target price (up from $132.00) on shares of Vertex Pharmaceuticals in a research note on Friday, May 19th. Stifel Nicolaus upped their target price on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Robert W. Baird reiterated an “outperform” rating and issued a $171.00 target price (up from $136.00) on shares of Vertex Pharmaceuticals in a research note on Friday, July 21st. Finally, Cowen and Company reiterated a “market perform” rating and issued a $105.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, July 6th. Five investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $162.88.

In other news, EVP David Altshuler sold 7,500 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $130.00, for a total value of $975,000.00. Following the sale, the executive vice president now directly owns 113,511 shares of the company’s stock, valued at $14,756,430. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Amit Sachdev sold 28,625 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $160.93, for a total value of $4,606,621.25. Following the completion of the sale, the executive vice president now directly owns 119,335 shares in the company, valued at $19,204,581.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 745,503 shares of company stock worth $112,220,787. 1.80% of the stock is currently owned by company insiders.

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

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