Vertex Pharmaceuticals Incorporated $VRTX Position Increased by Capital Research Global Investors

Capital Research Global Investors boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,316,344 shares of the pharmaceutical company’s stock after buying an additional 763,063 shares during the quarter. Vertex Pharmaceuticals comprises 1.4% of Capital Research Global Investors’ portfolio, making the stock its 14th biggest holding. Capital Research Global Investors owned 6.82% of Vertex Pharmaceuticals worth $7,850,544,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of VRTX. Norges Bank acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $1,440,149,000. Capital International Investors increased its position in 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 buying an additional 2,053,156 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $166,317,000. Arrowstreet Capital Limited Partnership increased its position in Vertex Pharmaceuticals by 520.1% during the third 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 last quarter. Finally, Los Angeles Capital Management LLC increased its position in Vertex Pharmaceuticals by 726.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 293,301 shares of the pharmaceutical company’s stock worth $123,154,000 after buying an additional 257,829 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $446.83 on Friday. The firm has a 50-day simple moving average of $437.33 and a 200 day simple moving average of $451.81. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92. The stock has a market cap of $113.41 billion, a PE ratio of 26.50, a PEG ratio of 1.91 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company earned $4.06 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Joy Liu sold 1,104 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares in the company, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the sale, the director owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 11,717 shares of company stock worth $5,309,945. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of several analyst reports. Canaccord Genuity Group lowered their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research report on Tuesday, May 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Royal Bank Of Canada increased their target price on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Bank of America increased their target price on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Finally, Citigroup increased their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $555.91.

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.