Huntington National Bank cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 27.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 565 shares of the pharmaceutical company’s stock after selling 210 shares during the quarter. Huntington National Bank’s holdings in Vertex Pharmaceuticals were worth $104,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Legacy Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $736,000. PFS Investments Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $413,000. Dorsey Wright & Associates bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $3,036,000. New England Research & Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $230,000. Finally, First Hawaiian Bank raised its stake in shares of Vertex Pharmaceuticals by 141.1% during the 1st quarter. First Hawaiian Bank now owns 7,459 shares of the pharmaceutical company’s stock worth $1,373,000 after purchasing an additional 4,365 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.
Shares of NASDAQ VRTX opened at $179.74 on Wednesday. Vertex Pharmaceuticals Incorporated has a one year low of $144.07 and a one year high of $195.81. The firm has a market capitalization of $46.87 billion, a price-to-earnings ratio of 63.51, a PEG ratio of 2.68 and a beta of 1.64.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.24. Vertex Pharmaceuticals had a return on equity of 24.15% and a net margin of 68.81%. The firm had revenue of $870.11 million for the quarter, compared to analyst estimates of $818.29 million. During the same period in the prior year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 3.04 earnings per share for the current year.
In other Vertex Pharmaceuticals news, EVP David Altshuler sold 1,223 shares of the company’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $194.62, for a total value of $238,020.26. Following the transaction, the executive vice president now directly owns 40,336 shares of the company’s stock, valued at approximately $7,850,192.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey M. Leiden sold 32,250 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $186.35, for a total value of $6,009,787.50. Following the completion of the transaction, the chief executive officer now directly owns 155,815 shares in the company, valued at $29,036,125.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,624 shares of company stock worth $38,187,166. Insiders own 0.75% of the company’s stock.
A number of equities research analysts have recently issued reports on VRTX shares. BidaskClub upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 16th. Maxim Group reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, March 6th. Cowen reiterated a “buy” rating and set a $220.00 price objective on shares of Vertex Pharmaceuticals in a research note on Wednesday, March 6th. Citigroup decreased their target price on Vertex Pharmaceuticals from $206.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, January 4th. Finally, Raymond James lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $165.71 target price on the stock. in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $203.31.
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About Vertex Pharmaceuticals
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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