Groupama Asset Managment Sells 17,916 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Groupama Asset Managment cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 29.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,381 shares of the pharmaceutical company’s stock after selling 17,916 shares during the period. Groupama Asset Managment’s holdings in Vertex Pharmaceuticals were worth $16,990,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Chesapeake Asset Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares in the last quarter. Colonial Trust Co SC raised its holdings in shares of Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 38 shares in the last quarter. Total Investment Management Inc. bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $33,000. Financial Network Wealth Advisors LLC lifted its position in Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after buying an additional 29 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its stake in Vertex Pharmaceuticals by 345.0% in the third quarter. Y.D. More Investments Ltd now owns 89 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 69 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $451.59 on Thursday. The firm has a market cap of $114.72 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.97 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $515.67. The business has a 50 day moving average price of $469.60 and a 200-day moving average price of $439.57.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 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 analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.98 earnings per share. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Duncan Mckechnie sold 4,910 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the completion of the transaction, the executive vice president directly owned 17,559 shares of the company’s stock, valued at approximately $8,562,646.35. This represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Carmen Bozic sold 2,329 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $481.79, for a total transaction of $1,122,088.91. Following the sale, the chief marketing officer owned 35,405 shares of the company’s stock, valued at approximately $17,057,774.95. This represents a 6.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 93,485 shares of company stock valued at $43,967,586. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Stifel Nicolaus upped their price objective on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Evercore increased their target price on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Truist Financial lifted their target price on shares of Vertex Pharmaceuticals from $490.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Citigroup boosted their price target on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $554.30.

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.