National Pension Service Has $240.66 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• National Pension Service increased its Vertex Pharmaceuticals stake by 3.7% in the fourth quarter, adding 18,728 shares and bringing its total holding to 530,841 shares worth about $240.7 million.
• Wall Street sentiment on VRTX remains bullish overall: analysts have given it a Moderate Buy rating, with a consensus price target of $555.91 after several firms raised targets or reiterated buy-equivalent ratings.
• Vertex reported strong quarterly results, with EPS of $4.47 beating estimates and revenue of $2.99 billion matching expectations, while revenue rose 8.3% year over year.

National Pension Service increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,841 shares of the pharmaceutical company's stock after buying an additional 18,728 shares during the period. National Pension Service owned 0.21% of Vertex Pharmaceuticals worth $240,662,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in VRTX. Earned Wealth Advisors LLC boosted its stake in Vertex Pharmaceuticals by 3.3% during the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company's stock valued at $295,000 after purchasing an additional 21 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake in Vertex Pharmaceuticals by 4.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company's stock valued at $247,000 after purchasing an additional 21 shares during the last quarter. Childress Capital Advisors LLC boosted its stake in Vertex Pharmaceuticals by 3.1% during the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company's stock valued at $331,000 after purchasing an additional 22 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in Vertex Pharmaceuticals by 0.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company's stock valued at $2,279,000 after purchasing an additional 24 shares during the last quarter. Finally, Glenview Trust Co boosted its stake in Vertex Pharmaceuticals by 0.3% during the 4th quarter. Glenview Trust Co now owns 7,005 shares of the pharmaceutical company's stock valued at $3,176,000 after purchasing an additional 24 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VRTX shares. Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price target for the company in a research note on Wednesday, March 18th. Scotiabank lifted their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Stifel Nicolaus lifted their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a "hold" rating in a research note on Friday, February 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $590.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Finally, Jefferies Financial Group assumed coverage on Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They set a "buy" rating and a $580.00 price target for the company. Twenty-two research 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $555.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the business's 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 sale, the director owned 4,924 shares of the company's stock, valued at $2,086,446.52. The trade was a 6.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the sale, the executive vice president directly owned 20,729 shares in the company, 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 have sold 11,717 shares of company stock valued at $5,309,945 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $447.54 on Friday. The company's fifty day simple moving average is $439.06 and its two-hundred day simple moving average is $451.64. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92. The stock has a market capitalization of $113.59 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.92 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter in the previous year, the firm posted $4.06 EPS. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.99 EPS for the current year.

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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