Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stake in Vertex Pharmaceuticals Incorporated (VRTX)

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,462 shares of the pharmaceutical company’s stock after selling 2,962 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Vertex Pharmaceuticals were worth $5,518,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in VRTX. Price T Rowe Associates Inc. MD boosted its stake in shares of Vertex Pharmaceuticals by 1.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 23,483,388 shares of the pharmaceutical company’s stock worth $2,047,986,000 after buying an additional 235,525 shares during the period. Capital World Investors boosted its stake in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Capital World Investors now owns 22,292,383 shares of the pharmaceutical company’s stock worth $1,944,119,000 after buying an additional 599,586 shares during the period. State Street Corp boosted its stake in shares of Vertex Pharmaceuticals by 2.7% in the fourth quarter. State Street Corp now owns 11,774,161 shares of the pharmaceutical company’s stock worth $867,393,000 after buying an additional 308,574 shares during the period. Orbimed Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 34.0% in the fourth quarter. Orbimed Advisors LLC now owns 2,159,400 shares of the pharmaceutical company’s stock worth $159,083,000 after buying an additional 547,400 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Vertex Pharmaceuticals by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 2,084,233 shares of the pharmaceutical company’s stock worth $227,910,000 after buying an additional 5,611 shares during the period. Institutional investors and hedge funds own 94.38% of the company’s stock.

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

Shares of Vertex Pharmaceuticals Incorporated (VRTX) traded down 0.73% during mid-day trading on Friday, reaching $123.14. 3,152,299 shares of the company’s stock traded hands. The company has a market cap of $30.67 billion, a price-to-earnings ratio of 171.74 and a beta of 1.65. The company has a 50 day moving average of $120.30 and a 200 day moving average of $97.79. Vertex Pharmaceuticals Incorporated has a 12 month low of $71.46 and a 12 month high of $130.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $714.72 million for the quarter, compared to analysts’ expectations of $692.64 million. Vertex Pharmaceuticals had a return on equity of 3.00% and a net margin of 8.64%. The company’s revenue for the quarter was up 79.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post $1.66 earnings per share for the current fiscal year.

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VRTX has been the subject of a number of recent analyst reports. Vetr upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “buy” rating and set a $102.50 target price for the company in a research report on Tuesday, March 14th. Robert W. Baird reiterated an “outperform” rating and set a $115.00 target price on shares of Vertex Pharmaceuticals in a research report on Wednesday, March 29th. BMO Capital Markets raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $89.67 to $100.00 in a report on Wednesday, March 29th. Jefferies Group LLC reissued a “buy” rating and set a $126.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, June 9th. Finally, Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, April 10th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $117.02.

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 70,969 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $128.06, for a total transaction of $9,088,290.14. Following the transaction, the executive vice president now directly owns 145,061 shares in the company, valued at approximately $18,576,511.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Altshuler sold 7,500 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $130.00, for a total value of $975,000.00. Following the transaction, the executive vice president now owns 113,511 shares in the company, valued at $14,756,430. The disclosure for this sale can be found here. Insiders have sold a total of 499,175 shares of company stock worth $60,610,079 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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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