Clark Capital Management Group Inc. Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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.

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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.

Read More: Asset Allocation

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

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