Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 174.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 24,328 shares of the pharmaceutical company’s stock after purchasing an additional 15,470 shares during the period. Banque Pictet & Cie SA’s holdings in Vertex Pharmaceuticals were worth $11,029,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake 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 boosted its holdings in shares of 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 acquiring an additional 444,990 shares during the period. Capital International Investors grew its position in shares of Vertex Pharmaceuticals by 77.9% during the third quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock worth $1,836,550,000 after acquiring an additional 2,053,156 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Vertex Pharmaceuticals by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company’s stock valued at $1,771,226,000 after acquiring an additional 144,266 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Vertex Pharmaceuticals by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,276,927 shares of the pharmaceutical company’s stock valued at $891,744,000 after acquiring an additional 95,565 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $447.26 on Thursday. The stock has a fifty day moving average price of $468.95 and a 200 day moving average price of $443.32. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $510.77. The company has a market cap of $113.62 billion, a PE ratio of 29.18, a P/E/G ratio of 1.91 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 earnings per share. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the subject of a number of recent research reports. Evercore increased their price target on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Citigroup lifted their price objective on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Jefferies Financial Group initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Finally, Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $554.30.

Insiders Place Their Bets

In other news, EVP Amit Sachdev sold 1,846 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $897,802.10. Following the transaction, the executive vice president directly owned 55,570 shares in the company, valued at $27,026,469.50. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark E. Bunnage sold 620 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $301,537.00. Following the transaction, the executive vice president directly owned 7,284 shares of the company’s stock, valued at $3,542,573.40. This represents a 7.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 93,485 shares of company stock valued at $43,967,586. Corporate insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

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.