Princeton Global Asset Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,395 shares of the pharmaceutical company’s stock after purchasing an additional 446 shares during the quarter. Vertex Pharmaceuticals makes up approximately 1.3% of Princeton Global Asset Management LLC’s holdings, making the stock its 21st biggest holding. Princeton Global Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,245,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of VRTX. Next Capital Management LLC boosted its stake in Vertex Pharmaceuticals by 84.4% in the second quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock valued at $30,000 after acquiring an additional 76 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Vertex Pharmaceuticals by 118.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock valued at $32,000 after acquiring an additional 96 shares during the last quarter. HM Payson & Co. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $35,000. Captrust Financial Advisors lifted its stake in shares of Vertex Pharmaceuticals by 204.1% in the 2nd quarter. Captrust Financial Advisors now owns 222 shares of the pharmaceutical company’s stock valued at $41,000 after purchasing an additional 149 shares during the period. Finally, Motco bought a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth $44,000. 94.87% of the stock is currently owned by institutional investors.
Shares of Vertex Pharmaceuticals stock traded up $0.34 during trading hours on Tuesday, hitting $221.13. The company’s stock had a trading volume of 950,441 shares, compared to its average volume of 1,292,485. The company has a market capitalization of $57.02 billion, a PE ratio of 78.14, a price-to-earnings-growth ratio of 2.03 and a beta of 1.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.44 and a quick ratio of 3.32. The stock has a 50 day moving average of $200.93 and a 200 day moving average of $181.81. Vertex Pharmaceuticals Incorporated has a 12 month low of $151.80 and a 12 month high of $223.73.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.36. Vertex Pharmaceuticals had a return on equity of 20.33% and a net margin of 59.24%. The business had revenue of $949.83 million for the quarter, compared to analysts’ expectations of $942.90 million. During the same quarter in the previous year, the business posted $1.09 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 3.72 EPS for the current year.
A number of brokerages recently commented on VRTX. Leerink Swann lifted their price objective on Vertex Pharmaceuticals from $186.00 to $203.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Piper Jaffray Companies increased their target price on Vertex Pharmaceuticals from $230.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Cowen restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, November 19th. JPMorgan Chase & Co. set a $218.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Guggenheim upgraded Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $252.00 target price for the company in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $219.07.
In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 8,379 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.80, for a total value of $1,397,617.20. Following the sale, the director now owns 7,810 shares of the company’s stock, valued at approximately $1,302,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ourania Tatsis sold 188 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.11, for a total value of $31,792.68. Following the completion of the sale, the senior vice president now directly owns 7,696 shares in the company, valued at approximately $1,301,470.56. The disclosure for this sale can be found here. Insiders have sold a total of 290,475 shares of company stock worth $56,792,441 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.
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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