California State Teachers Retirement System Has $124.51 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Posted by on Mar 16th, 2023

California State Teachers Retirement System cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 0.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 430,019 shares of the pharmaceutical company’s stock after selling 3,382 shares during the period. California State Teachers Retirement System owned about 0.17% of Vertex Pharmaceuticals worth $124,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Farmers & Merchants Investments Inc. boosted its position in shares of Vertex Pharmaceuticals by 25.0% in the third quarter. Farmers & Merchants Investments Inc. now owns 165 shares of the pharmaceutical company’s stock valued at $48,000 after acquiring an additional 33 shares during the period. Emfo LLC raised its stake in Vertex Pharmaceuticals by 15.5% during the third quarter. Emfo LLC now owns 254 shares of the pharmaceutical company’s stock worth $74,000 after acquiring an additional 34 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its stake in shares of Vertex Pharmaceuticals by 1.7% in the third quarter. Sound View Wealth Advisors Group LLC now owns 2,282 shares of the pharmaceutical company’s stock valued at $661,000 after buying an additional 38 shares during the period. Albion Financial Group UT increased its stake in shares of Vertex Pharmaceuticals by 3.0% in the third quarter. Albion Financial Group UT now owns 1,387 shares of the pharmaceutical company’s stock valued at $402,000 after buying an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC increased its stake in shares of Vertex Pharmaceuticals by 0.3% in the third quarter. Princeton Global Asset Management LLC now owns 15,023 shares of the pharmaceutical company’s stock valued at $4,350,000 after buying an additional 40 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Yuchun Lee sold 2,129 shares of the firm’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $312.02, for a total transaction of $664,290.58. Following the completion of the transaction, the director now owns 1,875 shares of the company’s stock, valued at $585,037.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Ourania Tatsis sold 275 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $298.99, for a total transaction of $82,222.25. Following the sale, the executive vice president now owns 65,765 shares in the company, valued at approximately $19,663,077.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Yuchun Lee sold 2,129 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $312.02, for a total transaction of $664,290.58. Following the sale, the director now owns 1,875 shares in the company, valued at approximately $585,037.50. The disclosure for this sale can be found here. Insiders have sold 40,916 shares of company stock worth $12,466,970 over the last ninety days. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on VRTX. Jefferies Financial Group cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $340.00 target price on the stock. in a report on Monday, December 19th. Canaccord Genuity Group began coverage on Vertex Pharmaceuticals in a report on Wednesday, January 18th. They set a “hold” rating and a $311.00 price target on the stock. Argus increased their target price on Vertex Pharmaceuticals from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, November 17th. Morgan Stanley cut their target price on Vertex Pharmaceuticals from $286.00 to $285.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 8th. Finally, HC Wainwright increased their target price on Vertex Pharmaceuticals from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $327.10.

Vertex Pharmaceuticals Price Performance

VRTX opened at $294.27 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.66 and a current ratio of 4.83. Vertex Pharmaceuticals Incorporated has a 52-week low of $233.01 and a 52-week high of $325.19. The stock has a market capitalization of $75.65 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.49 and a beta of 0.49. The stock’s 50 day moving average price is $298.78 and its 200-day moving average price is $298.91.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last posted its earnings results on Tuesday, February 7th. The pharmaceutical company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.65. Vertex Pharmaceuticals had a return on equity of 27.78% and a net margin of 37.20%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm earned $3.18 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 12.44 EPS for the current year.

Vertex Pharmaceuticals Company Profile

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Vertex Pharmaceuticals, Inc is a global biotechnology company, which engages in the business of discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.

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

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