Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by DNB Asset Management AS

DNB Asset Management AS lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,160 shares of the pharmaceutical company’s stock after acquiring an additional 5,256 shares during the period. DNB Asset Management AS’s holdings in Vertex Pharmaceuticals were worth $9,336,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Vertex Pharmaceuticals by 134.5% during the fourth quarter. Victory Capital Management Inc. now owns 347,651 shares of the pharmaceutical company’s stock worth $76,118,000 after buying an additional 199,395 shares in the last quarter. Vestcor Investment Management Corp acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $976,000. Advisor Group Inc. grew its position in shares of Vertex Pharmaceuticals by 84.8% during the fourth quarter. Advisor Group Inc. now owns 16,412 shares of the pharmaceutical company’s stock worth $3,593,000 after buying an additional 7,529 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $263,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Vertex Pharmaceuticals by 271.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,333 shares of the pharmaceutical company’s stock worth $11,239,000 after buying an additional 37,508 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

In related news, EVP Amit Sachdev sold 13,356 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $270.01, for a total value of $3,606,253.56. Following the completion of the sale, the executive vice president now directly owns 67,603 shares in the company, valued at approximately $18,253,486.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce I. Sachs sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $269.80, for a total value of $12,141,000.00. Following the completion of the sale, the director now owns 33,710 shares of the company’s stock, valued at $9,094,958. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 303,424 shares of company stock valued at $83,791,273. 0.70% of the stock is owned by corporate insiders.

NASDAQ:VRTX opened at $295.92 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 3.42. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $165.23 and a fifty-two week high of $306.08. The stock’s 50-day moving average is $282.14 and its two-hundred day moving average is $249.71. The stock has a market cap of $77.54 billion, a PE ratio of 51.29, a price-to-earnings-growth ratio of 1.44 and a beta of 0.94.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, April 29th. The pharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.72. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.28 billion. Vertex Pharmaceuticals had a return on equity of 25.69% and a net margin of 31.35%. The firm’s revenue was up 76.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 7.35 earnings per share for the current year.

VRTX has been the subject of a number of recent analyst reports. HC Wainwright raised their price target on shares of Vertex Pharmaceuticals from $270.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Argus raised their target price on Vertex Pharmaceuticals from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Credit Suisse Group reiterated a “buy” rating and issued a $298.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, April 30th. Citigroup raised their target price on Vertex Pharmaceuticals from $305.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Finally, Wolfe Research began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, March 12th. They set an “outperform” rating and a $282.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $285.12.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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

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