Flputnam Investment Management Co. Has $16.68 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Flputnam Investment Management Co. grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 36,791 shares of the pharmaceutical company’s stock after acquiring an additional 2,115 shares during the period. Flputnam Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $16,679,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Integrity Alliance LLC. acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $358,000. Collaborative Wealth Managment Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $242,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Vertex Pharmaceuticals by 51.8% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 595 shares of the pharmaceutical company’s stock valued at $270,000 after buying an additional 203 shares during the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $7,070,000. Finally, Harbour Investments Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 6.3% during the 4th quarter. Harbour Investments Inc. now owns 493 shares of the pharmaceutical company’s stock valued at $224,000 after buying an additional 29 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $435.93 on Wednesday. The business has a 50 day moving average price of $440.01 and a 200 day moving average price of $451.25. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92. The firm has a market cap of $110.64 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.86 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping 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 firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company earned $4.06 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several research reports. Scotiabank lifted their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Wall Street Zen upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. HC Wainwright boosted their target price on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Sanford C. Bernstein reduced their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Finally, Barclays boosted their target price on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $555.17.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president owned 20,729 shares of the company’s stock, valued at $8,810,239.58. The trade was a 5.06% 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. Over the last ninety days, insiders sold 11,717 shares of company stock worth $5,309,945. 0.20% of the stock is owned by corporate insiders.

About Vertex Pharmaceuticals

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.