Nippon Life Global Investors Americas Inc. cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 10.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,410 shares of the pharmaceutical company’s stock after selling 3,820 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Vertex Pharmaceuticals were worth $17,990,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Bell Investment Advisors Inc grew its stake in shares of Vertex Pharmaceuticals by 73.3% in the third quarter. Bell Investment Advisors Inc now owns 260 shares of the pharmaceutical company’s stock worth $136,000 after acquiring an additional 110 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Vertex Pharmaceuticals during the third quarter worth $116,629,000. ProShare Advisors LLC raised its stake in Vertex Pharmaceuticals by 2.2% during the 3rd quarter. ProShare Advisors LLC now owns 294,124 shares of the pharmaceutical company’s stock valued at $153,771,000 after purchasing an additional 6,277 shares during the last quarter. Vise Technologies Inc. raised its stake in Vertex Pharmaceuticals by 18.5% during the 3rd quarter. Vise Technologies Inc. now owns 9,344 shares of the pharmaceutical company’s stock valued at $4,885,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Grandfield & Dodd LLC boosted its holdings in Vertex Pharmaceuticals by 3.4% in the 3rd quarter. Grandfield & Dodd LLC now owns 25,689 shares of the pharmaceutical company’s stock valued at $13,430,000 after purchasing an additional 851 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on VRTX shares. Daiwa Securities Group raised their price target on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Morgan Stanley assumed coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 1st. They issued an “overweight” rating and a $665.00 target price for the company. TD Cowen boosted their price target on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Sanford C. Bernstein raised Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group raised their price objective on Vertex Pharmaceuticals from $633.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $579.81.
Read Our Latest Stock Analysis on VRTX
Vertex Pharmaceuticals Price Performance
VRTX opened at $558.88 on Monday. The stock has a market capitalization of $141.84 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 2.68 and a beta of 0.28. Vertex Pharmaceuticals Incorporated has a one year low of $403.16 and a one year high of $563.80. The company’s 50 day simple moving average is $523.21 and its 200-day simple moving average is $479.47.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.74 EPS for the current year.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.
Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.
Read More
- Five stocks we like better than Vertex Pharmaceuticals
- STMicroelectronics Could Reach New Highs—Here’s What Needs to Happen
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report).
Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
