CIBC Asset Management Inc Acquires 641 Shares of Vertex Pharmaceuticals Incorporated (VRTX)

CIBC Asset Management Inc boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,852 shares of the pharmaceutical company’s stock after purchasing an additional 641 shares during the period. CIBC Asset Management Inc’s holdings in Vertex Pharmaceuticals were worth $4,843,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Vertex Pharmaceuticals by 0.8% in the 2nd quarter. BlackRock Inc. now owns 19,405,981 shares of the pharmaceutical company’s stock valued at $2,500,849,000 after acquiring an additional 159,601 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock valued at $2,188,196,000 after acquiring an additional 504,982 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 19.0% in the 3rd quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock valued at $914,941,000 after acquiring an additional 962,644 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Vertex Pharmaceuticals by 28.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,077,303 shares of the pharmaceutical company’s stock valued at $267,702,000 after acquiring an additional 456,290 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Vertex Pharmaceuticals by 4.5% in the 2nd quarter. Wells Fargo & Company MN now owns 1,916,227 shares of the pharmaceutical company’s stock valued at $246,944,000 after acquiring an additional 83,314 shares in the last quarter. 92.79% of the stock is owned by institutional investors and hedge funds.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) traded down $0.21 during trading on Wednesday, reaching $147.82. 1,209,100 shares of the company’s stock were exchanged, compared to its average volume of 1,821,351. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $71.46 and a 12-month high of $167.85. The company has a market cap of $37,437.20, a P/E ratio of 246.72, a PEG ratio of 3.76 and a beta of 1.63.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The firm had revenue of $578.20 million during the quarter, compared to the consensus estimate of $522.07 million. During the same period in the prior year, the firm earned $0.16 EPS. The business’s revenue was up 39.7% on a year-over-year basis. analysts forecast that Vertex Pharmaceuticals Incorporated will post 0.72 earnings per share for the current year.

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Several research firms have weighed in on VRTX. Cowen and Company reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 1st. BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. BMO Capital Markets reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, September 27th. Finally, DA Davidson began coverage on shares of Vertex Pharmaceuticals in a research note on Friday, September 29th. They issued a “buy” rating and a $200.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the company. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus target price of $173.15.

In other news, EVP David Altshuler sold 1,796 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $160.00, for a total transaction of $287,360.00. Following the completion of the transaction, the executive vice president now directly owns 107,807 shares of the company’s stock, valued at approximately $17,249,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amit Sachdev sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $145.05, for a total transaction of $5,802,000.00. Following the transaction, the executive vice president now directly owns 89,810 shares of the company’s stock, valued at $13,026,940.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,094 shares of company stock valued at $32,074,719. Insiders own 1.80% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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