Gateway Investment Advisers LLC Decreases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Gateway Investment Advisers LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,253 shares of the pharmaceutical company’s stock after selling 2,693 shares during the period. Gateway Investment Advisers LLC’s holdings in Vertex Pharmaceuticals were worth $22,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in VRTX. Norges Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth $588,506,000. Alliancebernstein L.P. boosted its position in Vertex Pharmaceuticals by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 10,443,771 shares of the pharmaceutical company’s stock valued at $2,293,452,000 after buying an additional 1,374,923 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $202,855,000. Lazard Asset Management LLC boosted its position in Vertex Pharmaceuticals by 451.9% in the 4th quarter. Lazard Asset Management LLC now owns 915,720 shares of the pharmaceutical company’s stock valued at $201,090,000 after buying an additional 749,784 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in Vertex Pharmaceuticals by 159.0% in the 4th quarter. Epoch Investment Partners Inc. now owns 819,848 shares of the pharmaceutical company’s stock valued at $180,038,000 after buying an additional 503,347 shares during the last quarter. 89.84% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on VRTX. Morgan Stanley raised shares of Vertex Pharmaceuticals from an “underweight” rating to an “equal weight” rating and set a $250.00 price objective for the company in a research report on Tuesday, May 3rd. StockNews.com began coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. SVB Leerink began coverage on shares of Vertex Pharmaceuticals in a research note on Monday, May 23rd. They issued a “market perform” rating and a $265.00 target price on the stock. Oppenheimer upped their target price on shares of Vertex Pharmaceuticals from $305.00 to $350.00 in a research note on Monday, April 4th. Finally, Cowen upped their target price on shares of Vertex Pharmaceuticals from $305.00 to $310.00 in a research note on Monday, June 13th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $282.61.

VRTX traded up $8.53 on Thursday, hitting $280.84. 27,855 shares of the company’s stock were exchanged, compared to its average volume of 1,458,057. The firm has a market cap of $71.83 billion, a PE ratio of 28.66, a P/E/G ratio of 2.00 and a beta of 0.55. Vertex Pharmaceuticals Incorporated has a twelve month low of $176.36 and a twelve month high of $292.75. The stock has a fifty day moving average of $264.63 and a two-hundred day moving average of $246.16. The company has a current ratio of 4.75, a quick ratio of 4.60 and a debt-to-equity ratio of 0.05.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last released its quarterly earnings data on Thursday, May 5th. The pharmaceutical company reported $3.16 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.01). Vertex Pharmaceuticals had a return on equity of 32.24% and a net margin of 30.84%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company earned $2.54 EPS. Vertex Pharmaceuticals’s revenue was up 21.6% compared to the same quarter last year. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 12.47 EPS for the current year.

In other Vertex Pharmaceuticals news, Director Margaret G. Mcglynn sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $262.27, for a total value of $1,311,350.00. Following the completion of the sale, the director now owns 1,099 shares in the company, valued at approximately $288,234.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joy Liu sold 120 shares of the stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $275.41, for a total transaction of $33,049.20. Following the completion of the sale, the senior vice president now owns 14,334 shares of the company’s stock, valued at approximately $3,947,726.94. The disclosure for this sale can be found here. Insiders have sold 36,683 shares of company stock valued at $10,227,645 over the last 90 days. 0.40% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Company Profile (Get Rating)

Vertex Pharmaceuticals Incorporated, a biotechnology company, 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; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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

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