iA Global Asset Management Inc. grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,685 shares of the pharmaceutical company’s stock after acquiring an additional 1,843 shares during the quarter. iA Global Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $17,085,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in VRTX. Capital International Investors raised its stake in shares of 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 acquiring an additional 2,053,156 shares during the period. Capital Research Global Investors increased its stake in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock worth $6,482,978,000 after buying an additional 444,990 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Vertex Pharmaceuticals by 520.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 381,195 shares of the pharmaceutical company’s stock worth $149,291,000 after buying an additional 319,725 shares during the period. Vanguard Group Inc. increased its stake in Vertex Pharmaceuticals by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock worth $9,484,293,000 after buying an additional 243,088 shares during the period. Finally, Rakuten Investment Management Inc. purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $94,958,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.
Insider Buying and Selling at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 6,988 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the transaction, the chief marketing officer owned 26,088 shares of the company’s stock, valued at approximately $11,739,600. This trade represents a 21.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. This represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 79,802 shares of company stock worth $37,402,568. 0.20% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
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Vertex Pharmaceuticals Stock Performance
NASDAQ VRTX opened at $436.95 on Friday. The company has a market capitalization of $110.90 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.87 and a beta of 0.30. The company’s 50-day simple moving average is $445.56 and its two-hundred day simple moving average is $450.40. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.06 EPS. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current fiscal 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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