Ameriprise Financial Inc. Decreases Holdings in Vertex Pharmaceuticals Incorporated (VRTX)
Ameriprise Financial Inc. cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,432,080 shares of the pharmaceutical company’s stock after selling 973,672 shares during the period. Ameriprise Financial Inc. owned approximately 2.15% of Vertex Pharmaceuticals worth $825,872,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in VRTX. Dimensional Fund Advisors LP grew its stake in shares of Vertex Pharmaceuticals by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 272,933 shares of the pharmaceutical company’s stock valued at $29,842,000 after acquiring an additional 5,496 shares in the last quarter. Renaissance Technologies LLC bought a new position in Vertex Pharmaceuticals in the 1st quarter valued at approximately $4,387,000. Creative Planning increased its position in Vertex Pharmaceuticals by 32.8% during the 2nd quarter. Creative Planning now owns 3,716 shares of the pharmaceutical company’s stock valued at $479,000 after purchasing an additional 917 shares during the period. Fisher Asset Management LLC increased its position in Vertex Pharmaceuticals by 14.1% during the 2nd quarter. Fisher Asset Management LLC now owns 5,946 shares of the pharmaceutical company’s stock valued at $766,000 after purchasing an additional 733 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $197,000. Institutional investors and hedge funds own 92.42% of the company’s stock.
In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 221 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $147.29, for a total value of $32,551.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Altshuler sold 1,796 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $160.00, for a total value of $287,360.00. Following the completion of the sale, the executive vice president now owns 107,807 shares of the company’s stock, valued at approximately $17,249,120. The disclosure for this sale can be found here. Insiders sold a total of 220,315 shares of company stock valued at $32,107,270 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
Several brokerages have recently commented on VRTX. Oppenheimer Holdings, Inc. raised their price objective on shares of Vertex Pharmaceuticals from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. BMO Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, September 27th. Robert W. Baird reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Sunday, September 17th. Finally, Argus increased their target price on Vertex Pharmaceuticals from $71.46 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $173.15.
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Vertex Pharmaceuticals Incorporated (VRTX) traded down $2.77 during trading hours on Tuesday, reaching $144.64. The company had a trading volume of 1,451,600 shares, compared to its average volume of 1,810,961. The company has a market cap of $37,280.00, a P/E ratio of 245.68, a price-to-earnings-growth ratio of 3.74 and a beta of 1.63. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $167.85. The company has a quick ratio of 3.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.01.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. The company had revenue of $578.20 million during the quarter, compared to the consensus estimate of $522.07 million. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. Vertex Pharmaceuticals’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS. research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 0.72 EPS for the current fiscal year.
Vertex Pharmaceuticals Company 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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