Vestmark Advisory Solutions Inc. Acquires 6,595 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Vertex Pharmaceuticals by 113.8%, acquiring an additional 6,595 shares, bringing its total to 12,388 shares valued at approximately $6 million.
• Vertex Pharmaceuticals stock saw a 1.4% decrease, currently trading at $390.30, with a 52-week range from $362.50 to $519.88.
• The company reported better-than-expected quarterly earnings with an EPS of $4.52, beating estimates by $0.28, and an 11.3% increase in revenue compared to the previous year.

Vestmark Advisory Solutions Inc. grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 113.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,388 shares of the pharmaceutical company's stock after purchasing an additional 6,595 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Vertex Pharmaceuticals were worth $6,006,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Capital World Investors boosted its stake in shares of Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after buying an additional 1,514,993 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Vertex Pharmaceuticals by 1.0% in the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after acquiring an additional 232,873 shares during the period. Capital Research Global Investors boosted its position in Vertex Pharmaceuticals by 15.8% in the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after purchasing an additional 1,426,746 shares during the last quarter. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 17.2% in the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after purchasing an additional 744,680 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Vertex Pharmaceuticals by 12.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,833,889 shares of the pharmaceutical company's stock valued at $1,141,277,000 after purchasing an additional 317,058 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 1.4%

Shares of NASDAQ:VRTX opened at $390.30 on Friday. The firm has a fifty day simple moving average of $446.11 and a two-hundred day simple moving average of $464.11. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The stock has a market capitalization of $100.07 billion, a P/E ratio of 27.90 and a beta of 0.44.

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 analysts' consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm earned ($12.83) EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group set a $553.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Leerink Partnrs lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. HC Wainwright decreased their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Insider Activity

In related news, Director Bruce I. Sachs bought 5,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

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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