Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 107.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,555 shares of the pharmaceutical company’s stock after buying an additional 10,624 shares during the quarter. Intech Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $8,592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Vertex Pharmaceuticals by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 22,282,180 shares of the pharmaceutical company’s stock worth $9,066,396,000 after purchasing an additional 298,824 shares during the period. Capital World Investors lifted its position in Vertex Pharmaceuticals by 21.3% in the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock worth $8,872,586,000 after purchasing an additional 3,824,103 shares during the period. Jennison Associates LLC lifted its position in Vertex Pharmaceuticals by 21.2% in the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after purchasing an additional 837,461 shares during the period. Capital Research Global Investors lifted its position in Vertex Pharmaceuticals by 5.8% in the fourth quarter. Capital Research Global Investors now owns 3,567,664 shares of the pharmaceutical company’s stock worth $1,451,647,000 after purchasing an additional 195,080 shares during the period. Finally, Norges Bank acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $1,237,877,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ VRTX traded up $3.45 during mid-day trading on Friday, reaching $491.57. The company had a trading volume of 1,691,755 shares, compared to its average volume of 1,148,045. Vertex Pharmaceuticals Incorporated has a twelve month low of $340.20 and a twelve month high of $496.93. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The stock has a market capitalization of $126.85 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 2.54 and a beta of 0.39. The stock’s 50 day moving average is $468.52 and its 200-day moving average is $434.74.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.67 earnings per share. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $487.34, for a total transaction of $1,111,135.20. Following the transaction, the chief marketing officer now directly owns 27,819 shares of the company’s stock, valued at $13,557,311.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Ourania Tatsis sold 2,350 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the completion of the sale, the executive vice president now owns 53,523 shares in the company, valued at $23,502,484.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $487.34, for a total transaction of $1,111,135.20. Following the completion of the sale, the chief marketing officer now owns 27,819 shares of the company’s stock, valued at approximately $13,557,311.46. The disclosure for this sale can be found here. Insiders have sold 30,646 shares of company stock valued at $14,169,923 over the last three months. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research analyst reports. Argus upped their target price on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company increased their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Redburn Atlantic assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. Finally, Guggenheim increased their price objective on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $454.22.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.