New York State Teachers Retirement System lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 365,696 shares of the pharmaceutical company’s stock after selling 7,789 shares during the quarter. New York State Teachers Retirement System owned about 0.14% of Vertex Pharmaceuticals worth $67,061,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Covenant Asset Management LLC boosted its stake in Vertex Pharmaceuticals by 0.4% during the first quarter. Covenant Asset Management LLC now owns 18,115 shares of the pharmaceutical company’s stock worth $3,332,000 after buying an additional 66 shares in the last quarter. ETF Managers Group LLC boosted its stake in shares of Vertex Pharmaceuticals by 9.1% in the 1st quarter. ETF Managers Group LLC now owns 877 shares of the pharmaceutical company’s stock valued at $161,000 after purchasing an additional 73 shares in the last quarter. Pittenger & Anderson Inc. boosted its stake in shares of Vertex Pharmaceuticals by 64.7% in the 1st quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 75 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Vertex Pharmaceuticals by 28.0% in the 1st quarter. CENTRAL TRUST Co now owns 366 shares of the pharmaceutical company’s stock valued at $67,000 after purchasing an additional 80 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its stake in shares of Vertex Pharmaceuticals by 9.8% in the 1st quarter. Cornerstone Advisors Inc. now owns 943 shares of the pharmaceutical company’s stock valued at $173,000 after purchasing an additional 84 shares in the last quarter. 94.87% of the stock is currently owned by institutional investors and hedge funds.

VRTX has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Sunday, June 2nd. Goldman Sachs Group upgraded shares of Lenovo Group from a “neutral” rating to a “buy” rating in a research note on Thursday, May 23rd. They noted that the move was a valuation call. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price (down previously from $15.00) on shares of Nabriva Therapeutics in a research note on Wednesday, May 1st. ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Evercore ISI initiated coverage on shares of Homology Medicines in a research note on Thursday, April 11th. They issued an “outperform” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $205.00.

In related news, EVP Michael Parini sold 2,125 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $175.27, for a total value of $372,448.75. Following the completion of the transaction, the executive vice president now directly owns 37,128 shares of the company’s stock, valued at $6,507,424.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sangeeta N. Bhatia sold 720 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $167.08, for a total value of $120,297.60. Following the sale, the director now directly owns 7,260 shares of the company’s stock, valued at $1,213,000.80. The disclosure for this sale can be found here. Insiders sold 224,305 shares of company stock valued at $39,305,510 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

Shares of Vertex Pharmaceuticals stock traded down $2.73 during trading on Friday, reaching $166.83. The company’s stock had a trading volume of 1,640,860 shares, compared to its average volume of 942,142. The stock has a 50-day moving average of $176.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.78 and a quick ratio of 3.66. Vertex Pharmaceuticals Incorporated has a one year low of $151.80 and a one year high of $195.81. The firm has a market capitalization of $42.73 billion, a PE ratio of 58.95, a P/E/G ratio of 2.41 and a beta of 1.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Tuesday, April 30th. The pharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.49. Vertex Pharmaceuticals had a return on equity of 22.63% and a net margin of 66.01%. The business had revenue of $857.00 million during the quarter, compared to analysts’ expectations of $853.00 million. During the same period in the previous year, the business posted $0.76 earnings per share. The firm’s revenue for the quarter was up 34.3% compared to the same quarter last year. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.07 EPS for the current fiscal year.

Vertex Pharmaceuticals 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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