Capital International Investors Increases Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Capital International Investors increased its Vertex Pharmaceuticals stake by 0.9% in the fourth quarter, adding 44,537 shares to bring its total to 4.73 million shares worth about $2.15 billion.
• Vertex reported strong quarterly results, with EPS of $4.47 beating estimates and revenue of $2.99 billion matching expectations; revenue rose 8.3% year over year.
• Analysts remain largely positive on VRTX, with 22 Buy ratings and a consensus target price of $555.91, even as some firms made small target adjustments and one assigned a Hold rating.

Capital International Investors raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,733,596 shares of the pharmaceutical company's stock after buying an additional 44,537 shares during the quarter. Capital International Investors owned about 1.87% of Vertex Pharmaceuticals worth $2,146,041,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Colonial Trust Co SC boosted its stake in shares of Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $29,000. IMG Wealth Management Inc. lifted its position in Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock valued at $31,000 after purchasing an additional 50 shares during the period. Ares Financial Consulting LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $33,000. Finally, Archer Investment Corp lifted its position in Vertex Pharmaceuticals by 89.7% during the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock valued at $34,000 after purchasing an additional 35 shares during the period. Institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VRTX shares. Canaccord Genuity Group dropped their price target on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating for the company in a research report on Tuesday, May 5th. Royal Bank Of Canada increased their target price on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Sanford C. Bernstein reduced 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 report on Tuesday, May 5th. Scotiabank increased their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $590.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned 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 other news, CMO Carmen Bozic sold 6,988 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were 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 owned 26,088 shares in the company, valued at approximately $11,739,600. This trade represents a 21.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president owned 20,729 shares of the company's stock, valued at $8,810,239.58. The trade was a 5.06% 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 sold a total of 11,717 shares of company stock worth $5,309,945 over the last 90 days. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Up 1.2%

VRTX stock opened at $446.83 on Friday. The company's 50-day simple moving average is $437.33 and its 200-day simple moving average is $451.81. The firm has a market cap of $113.41 billion, a P/E ratio of 26.50, a PEG ratio of 1.91 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.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.06 EPS. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

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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