24,156 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by Eurizon SLJ Capital Ltd

Key Points

• Eurizon SLJ Capital Ltd opened a new position in Vertex Pharmaceuticals during the fourth quarter, buying 24,156 shares valued at about $10.95 million. The stake represents 4.3% of the firm’s holdings and makes VRTX its sixth-largest holding.
• Vertex reported strong quarterly results, posting EPS of $4.47 versus the $4.24 consensus estimate, with revenue of $2.99 billion and 8.3% year-over-year revenue growth. The company also delivered a 35.51% net margin and 23.86% return on equity.
• Analyst sentiment remains positive, with 22 Buy ratings and 3 Hold ratings, and a consensus price target of $555.91. However, some insiders sold shares recently, including Director Sangeeta N. Bhatia and CMO Carmen Bozic.

Eurizon SLJ Capital Ltd acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 24,156 shares of the pharmaceutical company's stock, valued at approximately $10,951,000. Vertex Pharmaceuticals makes up 4.3% of Eurizon SLJ Capital Ltd's holdings, making the stock its 6th largest holding.

Other large investors have also added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at about $64,417,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Vertex Pharmaceuticals by 3.8% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company's stock valued at $213,435,000 after purchasing an additional 20,053 shares in the last quarter. Leuthold Group LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at about $5,030,000. Legacy Capital Group California Inc. purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at about $956,000. Finally, ING Groep NV purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at about $4,695,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 0.1%

VRTX opened at $447.54 on Friday. The company has a market cap of $113.59 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.92 and a beta of 0.30. The business's 50-day moving average price is $439.06 and its 200-day moving average price is $451.64. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The firm had revenue of $2.99 billion for 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 company's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.06 earnings per share. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday. Cantor Fitzgerald restated an "overweight" rating and set a $590.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Scotiabank lifted their price objective on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Sanford C. Bernstein decreased their price objective on Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. Finally, Oppenheimer lifted their price objective on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an "outperform" rating in a report on Tuesday, March 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $555.91.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 318 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the sale, the director directly owned 4,924 shares of the company's stock, valued at $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the sale, the chief marketing officer directly owned 26,088 shares in the company, valued at $11,739,600. The trade was a 21.13% 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. Insiders have sold 11,717 shares of company stock valued at $5,309,945 over the last ninety days. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Company Profile

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.

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