Carmignac Gestion Has $81 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Carmignac Gestion increased its Vertex Pharmaceuticals stake by 10% in the second quarter, owning 163,045 shares valued at approximately $81 million. Institutional investors collectively hold 90.96% of Vertex’s stock.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and above estimates, though earnings of $4.73 per share narrowly missed consensus. Shares recently traded at $528.90, down 3.2% on the day.
• Wall Street remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $569.52; Morgan Stanley set the highest cited target at $665.

Carmignac Gestion grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,045 shares of the pharmaceutical company's stock after buying an additional 14,846 shares during the quarter. Vertex Pharmaceuticals makes up 1.0% of Carmignac Gestion's portfolio, making the stock its 25th largest position. Carmignac Gestion owned about 0.06% of Vertex Pharmaceuticals worth $81,003,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VRTX. California State Teachers Retirement System raised its holdings in Vertex Pharmaceuticals by 50,904.3% during the second quarter. California State Teachers Retirement System now owns 190,491,484 shares of the pharmaceutical company's stock worth $94,622,835,000 after acquiring an additional 190,118,003 shares in the last quarter. BlackRock Inc. bought a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $11,975,849,000. Capital Research Global Investors increased 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 purchasing an additional 763,063 shares during the last quarter. State Street Corp increased its position in shares of Vertex Pharmaceuticals by 0.7% during the 4th quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company's stock worth $5,299,569,000 after purchasing an additional 83,539 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of Vertex Pharmaceuticals by 0.9% during the 4th quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company's stock worth $2,146,041,000 after purchasing an additional 44,537 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 3.2%

Shares of NASDAQ:VRTX traded down $17.22 during trading on Tuesday, reaching $528.90. 1,121,085 shares of the company traded hands, compared to its average volume of 1,417,738. The company's 50 day moving average is $510.43 and its two-hundred day moving average is $471.81. The firm has a market capitalization of $134.23 billion, a PE ratio of 30.79, a PEG ratio of 2.37 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 52 week low of $374.17 and a 52 week high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.52 EPS. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.88 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Duncan McKechnie sold 1,541 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the sale, the executive vice president owned 11,001 shares of the company's stock, valued at approximately $5,709,519. This represents a 12.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 45,321 shares in the company, valued at $23,793,071.79. This represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,719 shares of company stock worth $4,174,147 over the last ninety days. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VRTX shares. Barclays increased their price objective on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Royal Bank Of Canada upped their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. Weiss Ratings cut shares of Vertex Pharmaceuticals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Morgan Stanley began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 1st. They issued an "overweight" rating and a $665.00 price objective for the company. Finally, UBS Group upped their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $569.52.

Vertex Pharmaceuticals 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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