DekaBank Deutsche Girozentrale increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 250.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,164 shares of the pharmaceutical company’s stock after acquiring an additional 267,507 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.15% of Vertex Pharmaceuticals worth $67,002,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Coastal Investment Advisors Inc. boosted its holdings in Vertex Pharmaceuticals by 54.5% during the second quarter. Coastal Investment Advisors Inc. now owns 1,622 shares of the pharmaceutical company’s stock worth $299,000 after buying an additional 572 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Vertex Pharmaceuticals by 3.4% in the 2nd quarter. TD Asset Management Inc. now owns 537,077 shares of the pharmaceutical company’s stock valued at $98,489,000 after acquiring an additional 17,903 shares in the last quarter. Slow Capital Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $756,000. Waldron Private Wealth LLC lifted its position in shares of Vertex Pharmaceuticals by 2.1% in the 2nd quarter. Waldron Private Wealth LLC now owns 5,407 shares of the pharmaceutical company’s stock valued at $991,000 after acquiring an additional 113 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $458,000. Institutional investors and hedge funds own 94.70% of the company’s stock.
NASDAQ:VRTX opened at $183.91 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $151.80 and a 1 year high of $195.81. The firm has a fifty day moving average price of $176.93. The company has a quick ratio of 3.63, a current ratio of 3.74 and a debt-to-equity ratio of 0.12. The firm has a market cap of $46.32 billion, a price-to-earnings ratio of 64.99, a PEG ratio of 2.38 and a beta of 1.40.
Vertex Pharmaceuticals announced that its board has initiated a stock repurchase program on Wednesday, July 31st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the pharmaceutical company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have issued reports on VRTX. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $212.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $220.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, August 1st. Needham & Company LLC downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Finally, Cowen set a $220.00 price target on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $206.63.
In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 2,125 shares of the firm’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $181.89, for a total value of $386,516.25. Following the sale, the executive vice president now directly owns 35,365 shares in the company, valued at approximately $6,432,539.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Parini sold 2,330 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $175.28, for a total transaction of $408,402.40. Following the completion of the sale, the executive vice president now owns 34,395 shares in the company, valued at $6,028,755.60. The disclosure for this sale can be found here. Insiders sold a total of 185,292 shares of company stock worth $32,507,560 over the last quarter. 0.70% of the stock is currently owned by company insiders.
Vertex Pharmaceuticals Company Profile
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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