Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $26.76 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its Vertex Pharmaceuticals stake by 4.1% in the fourth quarter, but still held 59,016 shares worth about $26.76 million as of its latest filing.
• Vertex reported strong quarterly results, posting EPS of $4.47 versus the $4.24 consensus and revenue of $2.99 billion, with revenue up 8.3% year over year.
• Analysts remain broadly bullish on the stock, with 22 Buy ratings, 3 Hold ratings, and an average price target of $555.91; meanwhile, insiders recently sold shares, including EVP Joy Liu and Director Sangeeta N. Bhatia.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,016 shares of the pharmaceutical company's stock after selling 2,553 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Vertex Pharmaceuticals were worth $26,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Colonial Trust Co SC increased its stake in Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $29,000. IMG Wealth Management Inc. increased its stake in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. Ares Financial Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $33,000. Finally, Archer Investment Corp increased its stake in Vertex Pharmaceuticals by 89.7% during the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock valued at $34,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $447.54 on Monday. The company has a market capitalization of $113.59 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.92 and a beta of 0.30. The firm's fifty day moving average price is $439.06 and its two-hundred day moving average price is $451.85. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.06 EPS. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.99 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on VRTX shares. Barclays boosted their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Bank of America lifted their price objective on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Citigroup lifted their price objective on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $555.91.

Insider Buying and Selling

In related news, EVP Joy Liu sold 1,104 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the transaction, the executive vice president directly owned 20,729 shares of the company's stock, valued at approximately $8,810,239.58. The trade was a 5.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the transaction, the director directly owned 4,924 shares in the company, valued at $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 11,717 shares of company stock valued at $5,309,945. 0.20% of the stock is owned by insiders.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.