Groupama Asset Managment Raises Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Groupama Asset Managment grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,479 shares of the pharmaceutical company’s stock after buying an additional 9,149 shares during the period. Groupama Asset Managment’s holdings in Vertex Pharmaceuticals were worth $17,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of VRTX. Vanguard Group Inc. boosted its position in shares of Vertex Pharmaceuticals by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock valued at $9,366,113,000 after acquiring an additional 98,654 shares during the last quarter. State Street Corp boosted its holdings in Vertex Pharmaceuticals by 0.8% during the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after acquiring an additional 90,173 shares during the period. Wellington Management Group LLP grew its holdings in shares of Vertex Pharmaceuticals by 23.3% in the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after purchasing an additional 1,117,214 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Vertex Pharmaceuticals by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock worth $1,519,302,000 after acquiring an additional 704,575 shares during the period. Finally, Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $1,374,948,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on VRTX shares. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Piper Sandler lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $508.65.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the sale, the executive vice president now owns 58,539 shares in the company, valued at approximately $27,825,928.26. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,315 shares of company stock valued at $2,121,012. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $484.82 on Tuesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The business’s 50-day moving average price is $477.71 and its 200 day moving average price is $463.68. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The firm has a market cap of $124.50 billion, a P/E ratio of -220.37, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.