Clark Capital Management Group Inc. bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,275 shares of the pharmaceutical company’s stock, valued at approximately $235,000.
Several other institutional investors have also added to or reduced their stakes in the company. RMB Capital Management LLC boosted its position in shares of Vertex Pharmaceuticals by 3.0% in the 4th quarter. RMB Capital Management LLC now owns 21,113 shares of the pharmaceutical company’s stock valued at $3,499,000 after purchasing an additional 617 shares during the period. State Treasurer State of Michigan boosted its position in shares of Vertex Pharmaceuticals by 74.8% in the 4th quarter. State Treasurer State of Michigan now owns 133,168 shares of the pharmaceutical company’s stock valued at $22,067,000 after purchasing an additional 57,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Vertex Pharmaceuticals by 2.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,102,654 shares of the pharmaceutical company’s stock worth $202,833,000 after acquiring an additional 30,705 shares during the period. HighPoint Advisor Group LLC boosted its position in Vertex Pharmaceuticals by 3.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,097 shares of the pharmaceutical company’s stock worth $952,000 after acquiring an additional 160 shares during the period. Finally, Biondo Investment Advisors LLC boosted its position in Vertex Pharmaceuticals by 8.8% during the 4th quarter. Biondo Investment Advisors LLC now owns 46,020 shares of the pharmaceutical company’s stock worth $7,626,000 after acquiring an additional 3,715 shares during the period. Institutional investors own 95.08% of the company’s stock.
In other news, Director Sangeeta N. Bhatia sold 720 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $167.08, for a total transaction of $120,297.60. Following the completion of the sale, the director now owns 7,260 shares in the company, valued at $1,213,000.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Leiden sold 113,432 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $175.10, for a total value of $19,861,943.20. Following the sale, the chief executive officer now owns 219,719 shares of the company’s stock, valued at approximately $38,472,796.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,399 shares of company stock valued at $28,980,388. 0.70% of the stock is currently owned by corporate insiders.
VRTX stock traded up $1.33 during trading on Friday, hitting $170.22. The company had a trading volume of 781,247 shares, compared to its average volume of 1,359,626. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.78 and a quick ratio of 3.66. The firm has a market cap of $43.70 billion, a price-to-earnings ratio of 60.15, a P/E/G ratio of 2.48 and a beta of 1.48. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $145.37 and a fifty-two week high of $195.81.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Tuesday, April 30th. The pharmaceutical company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.49. The company had revenue of $857.00 million for the quarter, compared to analyst estimates of $853.00 million. Vertex Pharmaceuticals had a return on equity of 22.63% and a net margin of 66.01%. The business’s revenue was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.06 earnings per share for the current year.
A number of brokerages have commented on VRTX. BidaskClub upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Sunday, June 2nd. Citigroup reaffirmed a “buy” rating and set a $205.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, May 23rd. Finally, Evercore ISI initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, April 11th. They set an “in-line” rating and a $183.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $204.36.
ILLEGAL ACTIVITY WARNING: This news story was reported by Sundance Herald and is the property of of Sundance Herald. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://sundanceherald.com/2019/06/14/clark-capital-management-group-inc-invests-235000-in-vertex-pharmaceuticals-incorporated-vrtx.html.
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.
Read More: Asset Allocation
Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.