TIAA Trust National Association Buys 26 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

TIAA Trust National Association lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,348 shares of the pharmaceutical company’s stock after acquiring an additional 26 shares during the quarter. TIAA Trust National Association’s holdings in Vertex Pharmaceuticals were worth $2,236,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Telos Capital Management Inc. grew its stake in Vertex Pharmaceuticals by 1.6% in the fourth quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock valued at $6,133,000 after purchasing an additional 237 shares during the last quarter. Brookstone Capital Management lifted its position in Vertex Pharmaceuticals by 11.1% during the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after acquiring an additional 237 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Vertex Pharmaceuticals by 15.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,897 shares of the pharmaceutical company’s stock valued at $12,497,000 after acquiring an additional 3,999 shares in the last quarter. ARK Investment Management LLC grew its holdings in Vertex Pharmaceuticals by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 124,197 shares of the pharmaceutical company’s stock worth $50,535,000 after purchasing an additional 8,866 shares during the last quarter. Finally, Brevan Howard Capital Management LP lifted its holdings in shares of Vertex Pharmaceuticals by 216.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock valued at $1,965,000 after purchasing an additional 3,303 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 2,350 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the transaction, the executive vice president now directly owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $3,483,664.00. Following the completion of the transaction, the executive vice president now directly owns 15,972 shares of the company’s stock, valued at $7,634,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 2,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the sale, the executive vice president now directly owns 53,523 shares in the company, valued at approximately $23,502,484.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,646 shares of company stock valued at $14,169,923. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group dropped their target price on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price target for the company. Oppenheimer restated an “outperform” rating and issued a $500.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Wells Fargo & Company increased their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Finally, Argus lifted their price objective on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $458.50.

Vertex Pharmaceuticals Price Performance

VRTX traded up $3.40 during trading on Monday, reaching $494.97. The company’s stock had a trading volume of 442,290 shares, compared to its average volume of 1,213,135. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $498.77. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The company has a market cap of $127.73 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.54 and a beta of 0.39. The firm has a fifty day simple moving average of $468.52 and a two-hundred day simple moving average of $434.91.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. Vertex Pharmaceuticals’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $2.67 earnings per share. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.16 EPS for the current year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.