Retirement Systems of Alabama Has $26.59 Million Holdings in Vertex Pharmaceuticals Incorporated (VRTX)

Retirement Systems of Alabama lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,474 shares of the pharmaceutical company’s stock after selling 805 shares during the quarter. Retirement Systems of Alabama owned about 0.06% of Vertex Pharmaceuticals worth $26,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Vertex Pharmaceuticals by 2.5% in the first quarter. BlackRock Inc. now owns 19,888,045 shares of the pharmaceutical company’s stock valued at $3,241,352,000 after purchasing an additional 478,972 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $247,701,000. Schwab Charles Investment Management Inc. increased its stake in shares of Vertex Pharmaceuticals by 2.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 970,935 shares of the pharmaceutical company’s stock valued at $158,243,000 after acquiring an additional 19,759 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 11,575.0% during the first quarter. Summit Trail Advisors LLC now owns 956,067 shares of the pharmaceutical company’s stock valued at $956,000 after acquiring an additional 947,878 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in shares of Vertex Pharmaceuticals by 25.6% during the first quarter. Westfield Capital Management Co. LP now owns 777,101 shares of the pharmaceutical company’s stock valued at $126,652,000 after acquiring an additional 158,240 shares during the period. Institutional investors own 93.38% of the company’s stock.

In related news, EVP Michael Parini sold 40,764 shares of the firm’s stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $159.29, for a total value of $6,493,297.56. Following the completion of the transaction, the executive vice president now owns 42,123 shares of the company’s stock, valued at approximately $6,709,772.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stuart A. Arbuckle sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $179.21, for a total transaction of $1,523,285.00. Following the completion of the transaction, the executive vice president now directly owns 53,127 shares of the company’s stock, valued at approximately $9,520,889.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 325,198 shares of company stock worth $52,264,134. 0.75% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals stock opened at $181.13 on Thursday. The company has a current ratio of 3.68, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $46.18 billion, a price-to-earnings ratio of 226.41, a price-to-earnings-growth ratio of 2.22 and a beta of 1.42. Vertex Pharmaceuticals Incorporated has a 1 year low of $136.50 and a 1 year high of $183.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, April 26th. The pharmaceutical company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.13. The firm had revenue of $641.00 million for the quarter, compared to analyst estimates of $626.05 million. Vertex Pharmaceuticals had a net margin of 9.36% and a return on equity of 15.28%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share. sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 1.94 earnings per share for the current year.

A number of research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Vertex Pharmaceuticals to $210.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Sunday, July 1st. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $178.00 price objective on the stock in a research note on Saturday, June 30th. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 23rd. Finally, Argus set a $172.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, June 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $185.15.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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

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