Groupama Asset Managment Grows Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Groupama Asset Managment grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 276.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 163,144 shares of the pharmaceutical company’s stock after buying an additional 119,763 shares during the period. Vertex Pharmaceuticals accounts for about 1.1% of Groupama Asset Managment’s portfolio, making the stock its 24th largest position. Groupama Asset Managment owned approximately 0.06% of Vertex Pharmaceuticals worth $73,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. Motiv8 Investments LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $26,000. Colonial Trust Co SC lifted its holdings in shares of Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Swiss RE Ltd. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $28,000. Eagle Bay Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $29,000. Finally, IMG Wealth Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Royal Bank Of Canada upped their target price on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Truist Financial started coverage on Vertex Pharmaceuticals in a report on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price target for the company. Bank of America raised their price target on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Barclays upped their price objective on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Citigroup increased their price objective on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $555.91.

Key Headlines Impacting Vertex Pharmaceuticals

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex remains fundamentally strong, with its last reported quarter beating EPS estimates and revenue rising 8.3% year over year, while analysts still broadly rate the stock a moderate buy with a consensus target above the current share price.
• Neutral Sentiment: The company has continued to attract investor attention as a “trending” biotech name, but the recent articles do not cite any new pipeline, regulatory, or earnings catalyst to explain a bigger move.
• Negative Sentiment: CMO Carmen Bozic sold 4,062 shares at $450 each under a Rule 10b5-1 plan, and the insider transaction may be contributing to cautious trading in VRTX. Article Title
• Negative Sentiment: Recent coverage notes the stock has been slipping even as the broader market gained, suggesting investors may be taking profits or reassessing valuation after the latest run-up. Article Title

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 4,062 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the completion of the transaction, the chief marketing officer directly owned 16,953 shares of the company’s stock, valued at approximately $7,628,850. This trade represents a 19.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,195 shares of company stock valued at $6,801,006 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $451.63 on Friday. The business has a fifty day moving average of $438.56 and a 200 day moving average of $453.14. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92. The firm has a market capitalization of $114.62 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.96 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the business earned $4.06 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.