Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Oddo BHF Asset Management Sas

Key Points

• Oddo BHF Asset Management Sas increased its Vertex Pharmaceuticals stake by 40.1% in the fourth quarter, buying 13,355 additional shares and bringing its total to 46,633 shares worth about $21.1 million.
• Vertex reported strong quarterly results, posting $4.47 EPS versus the $4.24 consensus estimate and $2.99 billion in revenue, with sales up 8.3% year over year.
• Analyst sentiment remains constructive: Vertex has a Moderate Buy consensus rating, with 22 Buy ratings and an average price target of $555.91.

Oddo BHF Asset Management Sas grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,633 shares of the pharmaceutical company's stock after purchasing an additional 13,355 shares during the quarter. Oddo BHF Asset Management Sas' holdings in Vertex Pharmaceuticals were worth $21,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of VRTX. Motiv8 Investments LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth about $26,000. Colonial Trust Co SC boosted its position in shares of Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 38 shares during the period. Swiss RE Ltd. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $29,000. Finally, IMG Wealth Management Inc. raised its holdings in Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction dated 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 transaction, the chief marketing officer owned 26,088 shares of the company's stock, valued at $11,739,600. This trade represents a 21.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director directly 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. 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. Over the last 90 days, insiders sold 11,133 shares of company stock valued at $4,973,106. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $450.46 on Tuesday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The company's 50 day simple moving average is $437.38 and its 200-day simple moving average is $452.67. The stock has a market capitalization of $114.33 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.90 and a beta of 0.30.

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 (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $4.06 earnings per share. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America upped their price target on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a "buy" rating in a report on Tuesday, March 10th. Oppenheimer boosted their price target on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an "outperform" rating in a report on Tuesday, March 10th. Royal Bank Of Canada upped their price objective on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Canaccord Genuity Group decreased their price objective on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating for the company in a report on Tuesday, May 5th. Finally, Barclays boosted their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $555.91.

Vertex Pharmaceuticals Company 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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