Empower Advisory Group LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 734 shares of the pharmaceutical company’s stock, valued at approximately $232,000.
Several other hedge funds have also added to or reduced their stakes in VRTX. LSV Asset Management increased its holdings in shares of Vertex Pharmaceuticals by 206.3% in the first quarter. LSV Asset Management now owns 4,751 shares of the pharmaceutical company’s stock worth $1,240,000 after buying an additional 3,200 shares during the period. Synovus Financial Corp lifted its position in Vertex Pharmaceuticals by 9.6% in the first quarter. Synovus Financial Corp now owns 6,737 shares of the pharmaceutical company’s stock valued at $1,759,000 after purchasing an additional 590 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of Vertex Pharmaceuticals by 69.4% during the first quarter. Cibc World Market Inc. now owns 6,622 shares of the pharmaceutical company’s stock valued at $1,728,000 after purchasing an additional 2,713 shares during the period. Sei Investments Co. grew its holdings in shares of Vertex Pharmaceuticals by 28.4% in the first quarter. Sei Investments Co. now owns 44,090 shares of the pharmaceutical company’s stock worth $11,756,000 after purchasing an additional 9,761 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Vertex Pharmaceuticals by 4.0% in the first quarter. Cetera Investment Advisers now owns 14,114 shares of the pharmaceutical company’s stock worth $3,683,000 after buying an additional 544 shares during the period. 90.77% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, EVP Ourania Tatsis sold 2,500 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $355.00, for a total transaction of $887,500.00. Following the sale, the executive vice president now directly owns 48,637 shares of the company’s stock, valued at $17,266,135. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,500 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $355.00, for a total value of $887,500.00. Following the completion of the sale, the executive vice president now owns 48,637 shares of the company’s stock, valued at approximately $17,266,135. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 242 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $345.51, for a total transaction of $83,613.42. Following the sale, the director now owns 4,386 shares of the company’s stock, valued at $1,515,406.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,883 shares of company stock valued at $7,785,258. Corporate insiders own 0.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Vertex Pharmaceuticals Stock Performance
Shares of VRTX stock opened at $348.90 on Monday. The company has a market capitalization of $90.05 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 2.58 and a beta of 0.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.96 and a current ratio of 4.14. Vertex Pharmaceuticals Incorporated has a one year low of $276.57 and a one year high of $367.00. The company’s 50-day moving average is $349.72 and its 200 day moving average is $335.79.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The pharmaceutical company reported $3.53 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.06. Vertex Pharmaceuticals had a net margin of 35.40% and a return on equity of 24.05%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 13.26 EPS for the current fiscal year.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.
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