Los Angeles Capital Management & Equity Research Inc. Has $79.58 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Los Angeles Capital Management & Equity Research Inc. trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 433,986 shares of the pharmaceutical company’s stock after selling 1,000 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.17% of Vertex Pharmaceuticals worth $79,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Evolution Wealth Advisors LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at about $32,000. FTB Advisors Inc. boosted its position in shares of Vertex Pharmaceuticals by 1,618.2% during the first quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 178 shares during the period. Pittenger & Anderson Inc. boosted its position in shares of Vertex Pharmaceuticals by 64.7% during the first quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 75 shares during the period. Thor Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $37,000. Finally, Pearl River Capital LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $44,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

NASDAQ VRTX traded down $0.42 during trading hours on Friday, hitting $182.52. 33,501 shares of the company traded hands, compared to its average volume of 1,353,515. The stock has a 50-day simple moving average of $176.96. Vertex Pharmaceuticals Incorporated has a twelve month low of $151.80 and a twelve month high of $195.81. 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 stock has a market cap of $45.48 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 2.31 and a beta of 1.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.75 by $0.24. The firm had revenue of $941.29 million during the quarter, compared to analysts’ expectations of $884.66 million. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 earnings per share. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.41 EPS for the current fiscal year.

Vertex Pharmaceuticals announced that its board has initiated a stock repurchase plan on Wednesday, July 31st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the pharmaceutical company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Several research analysts have recently weighed in on VRTX shares. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $212.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, August 1st. Piper Jaffray Companies upped their price objective on Vertex Pharmaceuticals from $217.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BidaskClub raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup reaffirmed a “buy” rating and set a $205.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, May 23rd. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $206.63.

In other Vertex Pharmaceuticals news, CMO Reshma Kewalramani sold 241 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $165.41, for a total value of $39,863.81. Following the sale, the chief marketing officer now owns 13,736 shares in the company, valued at $2,272,071.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey M. Leiden sold 113,432 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $175.10, for a total value of $19,861,943.20. Following the completion of the sale, the chief executive officer now owns 219,719 shares in the company, valued at approximately $38,472,796.90. The disclosure for this sale can be found here. Insiders sold 183,630 shares of company stock worth $32,197,628 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

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

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