Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Groupama Asset Managment

Groupama Asset Managment raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 165,897 shares of the pharmaceutical company’s stock after purchasing an additional 2,753 shares during the period. Groupama Asset Managment’s holdings in Vertex Pharmaceuticals were worth $74,080,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP lifted its holdings in Vertex Pharmaceuticals by 414.1% during the 4th quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company’s stock worth $6,363,000 after buying an additional 11,306 shares during the last quarter. Calamos Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 77.1% in the 1st quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock valued at $34,779,000 after acquiring an additional 33,917 shares during the last quarter. Sandro Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $1,436,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its position in shares of Vertex Pharmaceuticals by 11.9% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company’s stock valued at $15,625,000 after acquiring an additional 3,710 shares in the last quarter. Finally, Meiji Yasuda America Inc bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $1,911,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Duncan Mckechnie sold 1,541 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the transaction, the executive vice president directly owned 11,001 shares of the company’s stock, valued at $5,709,519. This represents a 12.29% 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, EVP Ourania Tatsis sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the sale, the executive vice president owned 45,321 shares in the company, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 17,770 shares of company stock valued at $8,238,744. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:VRTX opened at $477.10 on Friday. The company has a market cap of $121.09 billion, a PE ratio of 28.30, a P/E/G ratio of 2.17 and a beta of 0.29. The company’s 50-day moving average price is $470.62 and its 200 day moving average price is $460.33. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results 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. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business posted $4.06 EPS. Vertex Pharmaceuticals’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on VRTX shares. Sanford C. Bernstein decreased their price objective on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Barclays lifted their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $559.61.

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.