Paloma Partners Management Co Sells 15,622 Shares of Vertex Pharmaceuticals Incorporated (VRTX)

Paloma Partners Management Co decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 49.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,211 shares of the pharmaceutical company’s stock after selling 15,622 shares during the period. Paloma Partners Management Co’s holdings in Vertex Pharmaceuticals were worth $1,773,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC increased its position in shares of Vertex Pharmaceuticals by 1.8% in the first quarter. Private Advisor Group LLC now owns 5,328 shares of the pharmaceutical company’s stock worth $607,000 after buying an additional 94 shares during the period. Princeton Alpha Management LP purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $383,000. Dynamic Capital Management Ltd increased its position in shares of Vertex Pharmaceuticals by 53.8% in the first quarter. Dynamic Capital Management Ltd now owns 39,614 shares of the pharmaceutical company’s stock worth $4,332,000 after buying an additional 13,853 shares during the period. Swiss National Bank increased its position in shares of Vertex Pharmaceuticals by 27.4% in the first quarter. Swiss National Bank now owns 878,809 shares of the pharmaceutical company’s stock worth $96,098,000 after buying an additional 189,000 shares during the period. Finally, Canal Insurance CO increased its position in shares of Vertex Pharmaceuticals by 100.0% in the fourth quarter. Canal Insurance CO now owns 40,000 shares of the pharmaceutical company’s stock worth $2,947,000 after buying an additional 20,000 shares during the period. 94.08% of the stock is currently owned by institutional investors.

Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at 129.21 on Tuesday. The firm has a market cap of $32.18 billion, a PE ratio of 180.21 and a beta of 1.73. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $137.26. The company’s 50-day moving average is $123.78 and its 200-day moving average is $101.21.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. Vertex Pharmaceuticals had a net margin of 8.64% and a return on equity of 3.00%. The company had revenue of $714.72 million during the quarter, compared to the consensus estimate of $692.64 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 79.5% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.66 EPS for the current fiscal year.

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A number of equities analysts have commented on VRTX shares. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. Maxim Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a research note on Friday, March 31st. Jefferies Group LLC started coverage on shares of Vertex Pharmaceuticals in a research note on Monday, July 10th. They issued a “buy” rating and a $155.00 price target on the stock. Barclays PLC reissued an “equal weight” rating and issued a $100.00 price target (up from $90.00) on shares of Vertex Pharmaceuticals in a research note on Sunday, April 23rd. Finally, Vetr downgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $102.62 price target on the stock. in a research note on Tuesday, May 16th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $122.72.

In related news, EVP David Altshuler sold 7,500 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $130.00, for a total transaction of $975,000.00. Following the sale, the executive vice president now directly owns 113,511 shares in the company, valued at $14,756,430. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 157,200 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $119.50, for a total transaction of $18,785,400.00. Following the sale, the chief executive officer now owns 395,152 shares in the company, valued at $47,220,664. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,097 shares of company stock valued at $50,604,479. Corporate insiders own 1.80% of the company’s stock.

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.

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

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