Groupama Asset Managment Raises Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Groupama Asset Managment boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,897 shares of the pharmaceutical company’s stock after acquiring an additional 2,753 shares during the quarter. Groupama Asset Managment owned 0.07% of Vertex Pharmaceuticals worth $74,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Motiv8 Investments LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth about $26,000. Swiss RE Ltd. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $29,000. IMG Wealth Management Inc. grew its holdings in shares of Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $477.10 on Friday. The firm has a 50-day moving average of $470.62 and a two-hundred day moving average of $460.33. The stock has a market cap of $121.09 billion, a P/E ratio of 28.30, a PEG ratio of 2.17 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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 return on equity of 23.86% and a net margin of 35.51%.The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the firm earned $4.06 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Canaccord Genuity Group decreased their price objective on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a research note on Tuesday, May 5th. Royal Bank Of Canada increased their price objective on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Sanford C. Bernstein cut their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, UBS Group lifted their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a report on Monday, July 13th. Twenty-two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $559.61.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was 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 in the company, valued at $2,086,446.52. This trade represents a 6.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the sale, the chief marketing officer owned 26,088 shares in the company, valued at $11,739,600. This represents a 21.13% 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. Over the last three months, insiders sold 17,770 shares of company stock worth $8,238,744. Company 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.