Flputnam Investment Management Co. Sells 3,065 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Flputnam Investment Management Co. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,676 shares of the pharmaceutical company’s stock after selling 3,065 shares during the quarter. Flputnam Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $13,580,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $1,593,974,000. Jennison Associates LLC grew its position in shares of Vertex Pharmaceuticals by 21.5% during the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after purchasing an additional 1,089,063 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Vertex Pharmaceuticals by 214.6% in the third quarter. Assenagon Asset Management S.A. now owns 763,703 shares of the pharmaceutical company’s stock worth $299,097,000 after purchasing an additional 520,949 shares during the period. Vanguard Group Inc. increased its holdings in shares of Vertex Pharmaceuticals by 2.1% in the second quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock worth $10,673,126,000 after purchasing an additional 482,616 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Vertex Pharmaceuticals by 10.7% in the second quarter. Alliancebernstein L.P. now owns 4,378,320 shares of the pharmaceutical company’s stock worth $1,949,228,000 after buying an additional 424,808 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $456.20 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The stock has a 50 day simple moving average of $430.64 and a two-hundred day simple moving average of $425.87. The firm has a market cap of $115.75 billion, a P/E ratio of 32.17 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the business posted $4.38 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,202,600. This represents a 27.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 151,073 shares of company stock valued at $67,326,816 over the last three months. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VRTX. JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Raymond James Financial initiated coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a “market perform” rating for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Stifel Nicolaus cut their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Finally, Barclays increased their price target on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $498.42.

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.