Amundi Acquires 168,335 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Amundi increased its Vertex Pharmaceuticals stake by 12.9%, acquiring 168,335 shares to hold 1,472,496 shares valued at approximately $657.5 million. Institutional investors collectively own 90.96% of the company.
• Vertex reported quarterly earnings of $4.47 per share, beating estimates of $4.24, while revenue rose 8.3% year over year to $2.99 billion.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $559.61; shares recently traded at $490.39.

Amundi lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,472,496 shares of the pharmaceutical company's stock after acquiring an additional 168,335 shares during the period. Amundi owned approximately 0.58% of Vertex Pharmaceuticals worth $657,528,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Vertex Pharmaceuticals during the 4th quarter worth $1,440,149,000. Victory Capital Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 49.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company's stock worth $1,521,851,000 after acquiring an additional 1,109,200 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Vertex Pharmaceuticals by 4.6% during the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company's stock worth $7,850,544,000 after acquiring an additional 763,063 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $166,317,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Vertex Pharmaceuticals by 520.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 381,195 shares of the pharmaceutical company's stock valued at $149,291,000 after acquiring an additional 319,725 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the transaction, the director owned 4,924 shares in the company, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. This represents a 3.20% 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 18,874 shares of company stock valued at $8,707,966 in the last quarter. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 2.4%

Shares of VRTX stock opened at $490.39 on Wednesday. The firm has a market capitalization of $124.46 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 2.16 and a beta of 0.29. The business's 50-day moving average price is $467.74 and its 200-day moving average price is $459.99. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm posted $4.06 earnings per share. The firm's revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings upgraded Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. UBS Group lifted their price target on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Truist Financial boosted their price target on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Sanford C. Bernstein dropped their price objective on Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Finally, Barclays raised their price objective on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $559.61.

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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