Americana Partners LLC Acquires 2,665 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Americana Partners LLC boosted its Vertex Pharmaceuticals stake by 10.9% in the fourth quarter, buying 2,665 additional shares and bringing its total holding to 27,133 shares worth about $12.3 million.
• Vertex reported solid quarterly results, posting EPS of $4.47, above estimates, on revenue of $2.99 billion. Revenue rose 8.3% year over year, and the company continues to show strong profitability with a 35.51% net margin.
• Analyst sentiment remains favorable, with several firms raising price targets or upgrading the stock. MarketBeat data shows a consensus rating of “Moderate Buy” and an average price target of $555.17.

Americana Partners LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,133 shares of the pharmaceutical company's stock after buying an additional 2,665 shares during the period. Americana Partners LLC's holdings in Vertex Pharmaceuticals were worth $12,301,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 1.0% during the third quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company's stock worth $9,484,293,000 after acquiring an additional 243,088 shares in the last quarter. Capital Research Global Investors raised its position in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company's stock valued at $6,482,978,000 after purchasing an additional 444,990 shares during the period. Capital International Investors raised its position in shares of Vertex Pharmaceuticals by 77.9% in the third quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company's stock valued at $1,836,550,000 after purchasing an additional 2,053,156 shares during the period. Alliancebernstein L.P. raised its position in shares of Vertex Pharmaceuticals by 3.3% in the third quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company's stock valued at $1,771,226,000 after purchasing an additional 144,266 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Vertex Pharmaceuticals by 4.4% in the third quarter. Ameriprise Financial Inc. now owns 2,276,927 shares of the pharmaceutical company's stock valued at $891,744,000 after purchasing an additional 95,565 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $434.52 on Friday. The firm has a market cap of $110.28 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.86 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92. The firm has a 50 day moving average price of $441.55 and a two-hundred day moving average price of $450.85.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.06 EPS. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRTX. Maxim Group raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price objective on the stock in a research report on Wednesday, March 18th. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Sunday, May 10th. Sanford C. Bernstein decreased their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 5th. Scotiabank increased their price objective on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Finally, Royal Bank Of Canada increased their price objective on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $555.17.

Insiders Place Their Bets

In related news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction on Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares of the company's stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the completion of the sale, the chief marketing officer directly owned 26,088 shares of the company's stock, valued at approximately $11,739,600. The trade was a 21.13% decrease in their position. 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 a total of 21,189 shares of company stock worth $9,923,036 in the last quarter. Insiders own 0.20% of the company's stock.

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.

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