Cullen Frost Bankers Inc. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 2,050 shares of the pharmaceutical company’s stock after selling 30 shares during the period. Cullen Frost Bankers Inc.’s holdings in Vertex Pharmaceuticals were worth $264,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of VRTX. Korea Investment CORP boosted its position in Vertex Pharmaceuticals by 11,816.0% in the second quarter. Korea Investment CORP now owns 113,202 shares of the pharmaceutical company’s stock valued at $14,588,000 after buying an additional 112,252 shares during the last quarter. Welch & Forbes LLC boosted its position in Vertex Pharmaceuticals by 0.4% in the second quarter. Welch & Forbes LLC now owns 186,425 shares of the pharmaceutical company’s stock valued at $24,024,000 after buying an additional 651 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Vertex Pharmaceuticals by 17.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 273,420 shares of the pharmaceutical company’s stock valued at $35,237,000 after buying an additional 40,853 shares during the last quarter. Sei Investments Co. boosted its position in Vertex Pharmaceuticals by 47.6% in the second quarter. Sei Investments Co. now owns 97,450 shares of the pharmaceutical company’s stock valued at $12,558,000 after buying an additional 31,434 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its position in Vertex Pharmaceuticals by 49.9% in the second quarter. Essex Investment Management Co. LLC now owns 57,213 shares of the pharmaceutical company’s stock valued at $7,373,000 after buying an additional 19,050 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) opened at 152.58 on Thursday. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $167.86. The company has a market cap of $38.47 billion, a price-to-earnings ratio of 146.57 and a beta of 1.77. The firm’s 50-day moving average is $142.94 and its 200-day moving average is $114.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.33. The business had revenue of $544.10 million during the quarter, compared to the consensus estimate of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. Vertex Pharmaceuticals’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Analysts expect that Vertex Pharmaceuticals Incorporated will post $1.59 EPS for the current fiscal year.

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VRTX has been the subject of several research analyst reports. Vetr upgraded shares of Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 target price for the company in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and set a $185.00 target price (up from $155.00) on shares of Vertex Pharmaceuticals in a research note on Wednesday, July 19th. Credit Suisse Group upped their target price on shares of Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, July 19th. Robert W. Baird upped their target price on shares of Vertex Pharmaceuticals from $115.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Finally, UBS AG cut shares of Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and upped their target price for the company from $135.00 to $174.00 in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $162.88.

In other Vertex Pharmaceuticals news, CFO Ian F. Smith sold 4,250 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $155.39, for a total value of $660,407.50. Following the transaction, the chief financial officer now owns 120,138 shares in the company, valued at $18,668,243.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Paul M. Silva sold 43,443 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $161.07, for a total value of $6,997,364.01. Following the completion of the transaction, the senior vice president now owns 26,516 shares in the company, valued at approximately $4,270,932.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 751,042 shares of company stock valued at $113,078,257. 1.80% of the stock is owned by insiders.

About Vertex Pharmaceuticals

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

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