Vertex Pharmaceuticals Incorporated $VRTX Stock Holdings Trimmed by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management sharply reduced its Vertex Pharmaceuticals stake by 99.3% in the fourth quarter, selling 65,139 shares and leaving just 480 shares worth about $218,000.
• Vertex posted stronger-than-expected quarterly results, with EPS of $4.47 topping estimates of $4.24 and revenue rising 8.3% year over year to $2.99 billion.
• Analysts remain upbeat on VRTX, with 22 Buy ratings and a consensus price target of $555.91, while several firms recently reiterated or raised their targets.

Jupiter Asset Management Ltd. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 99.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 480 shares of the pharmaceutical company's stock after selling 65,139 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Vertex Pharmaceuticals were worth $218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Vertex Pharmaceuticals by 1.0% in the third quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company's stock valued at $9,484,293,000 after buying an additional 243,088 shares during the last quarter. Capital Research Global Investors increased its holdings in Vertex Pharmaceuticals by 2.8% in the third quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company's stock valued at $6,482,978,000 after buying an additional 444,990 shares during the last quarter. Capital International Investors increased its holdings in Vertex Pharmaceuticals by 77.9% in the third quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company's stock valued at $1,836,550,000 after buying an additional 2,053,156 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Vertex Pharmaceuticals by 3.3% in the third quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company's stock valued at $1,771,226,000 after buying an additional 144,266 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Vertex Pharmaceuticals by 4.4% in the third quarter. Ameriprise Financial Inc. now owns 2,276,927 shares of the pharmaceutical company's stock valued at $891,744,000 after buying an additional 95,565 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director directly owned 4,924 shares of the company's stock, valued at $2,086,446.52. This represents a 6.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 directly owned 26,088 shares of the company's stock, valued at $11,739,600. This trade represents a 21.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,717 shares of company stock valued at $5,309,945 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VRTX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Oppenheimer upped their target price on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an "outperform" rating in a report on Tuesday, March 10th. Sanford C. Bernstein lowered their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating for the company in a report on Tuesday, May 5th. Scotiabank upped their target price on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Finally, Bank of America upped their target price on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a "buy" rating in a report on Tuesday, March 10th. Twenty-two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $555.91.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $447.54 on Monday. The firm has a market capitalization of $113.59 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 1.92 and a beta of 0.30. The stock has a 50 day moving average of $439.06 and a 200-day moving average of $451.85. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the company posted $4.06 EPS. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 16.99 EPS for the current fiscal year.

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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