Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,740 shares of the pharmaceutical company's stock, valued at approximately $6,328,000.
Several other large investors have also recently added to or reduced their stakes in VRTX. Meeder Asset Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth $26,000. Community Financial Services Group LLC acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $26,000. Elevation Wealth Partners LLC increased its stake in Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 28 shares during the period. Motiv8 Investments LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth $26,000. Finally, Swiss RE Ltd. acquired a new position in Vertex Pharmaceuticals in the 4th quarter worth $28,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
VRTX has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research report on Monday, July 13th. TD Cowen boosted their price target on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Wall Street Zen lowered Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. Finally, Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a "hold" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $563.50.
Check Out Our Latest Stock Analysis on Vertex Pharmaceuticals
Insider Activity
In other news, EVP Duncan Mckechnie sold 1,541 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the sale, the executive vice president directly owned 11,001 shares of the company's stock, valued at $5,709,519. The trade was a 12.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the transaction, the chief marketing officer directly owned 15,337 shares in the company, valued at approximately $7,400,102.50. This trade represents a 3.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 10,464 shares of company stock worth $4,959,397. Insiders own 0.20% of the company's stock.
Vertex Pharmaceuticals Price Performance
Vertex Pharmaceuticals stock opened at $548.05 on Monday. Vertex Pharmaceuticals Incorporated has a 12 month low of $374.17 and a 12 month high of $555.32. The company has a fifty day moving average price of $492.65 and a two-hundred day moving average price of $465.88. The company has a market cap of $139.10 billion, a PE ratio of 31.90, a P/E/G ratio of 2.27 and a beta of 0.30.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $4.52 EPS. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.
About Vertex Pharmaceuticals
(
Free Report)
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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