Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Vertex Pharmaceuticals by 8.5%, acquiring an additional 5,800 shares, bringing its total holdings to 73,888 shares valued at approximately $35.82 million.
• Vertex Pharmaceuticals reported an EPS of $4.52 for the last quarter, surpassing expectations, with revenues of $2.94 billion, marking an 11.3% increase year-over-year.
• Wall Street analysts have given Vertex Pharmaceuticals a consensus rating of "Moderate Buy," with an average price target of $497.10, reflecting a range of ratings from several analysts.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,888 shares of the pharmaceutical company's stock after acquiring an additional 5,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Vertex Pharmaceuticals were worth $35,822,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $40,000. Minot DeBlois Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $44,000. Finally, SJS Investment Consulting Inc. raised its stake in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $395.92 on Thursday. The stock has a market cap of $101.51 billion, a price-to-earnings ratio of 28.30 and a beta of 0.44. The business has a 50 day simple moving average of $447.18 and a 200 day simple moving average of $464.48. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($12.83) EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VRTX shares. Morgan Stanley set a $439.00 price objective on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald dropped their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. UBS Group set a $553.00 price target on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus dropped their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $497.10.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

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