Legal & General Group Plc increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,140,963 shares of the pharmaceutical company’s stock after buying an additional 53,020 shares during the period. Legal & General Group Plc owned approximately 0.45% of Vertex Pharmaceuticals worth $147,036,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Korea Investment CORP increased its stake in shares of Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock valued at $104,000 after buying an additional 658 shares during the period. Guardian Life Insurance Co. of America increased its stake in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 6 shares during the period. Dupont Capital Management Corp bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $186,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Vertex Pharmaceuticals by 7.1% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,500 shares of the pharmaceutical company’s stock valued at $164,000 after buying an additional 100 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $197,000. 94.89% of the stock is owned by hedge funds and other institutional investors.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) opened at 149.01 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1-year low of $71.46 and a 1-year high of $167.85. The company’s 50-day moving average price is $147.30 and its 200 day moving average price is $118.72. The company has a market cap of $37.57 billion, a price-to-earnings ratio of 143.14 and a beta of 1.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million during the quarter, compared to the consensus estimate of $489.95 million. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. Vertex Pharmaceuticals’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post $1.60 earnings per share for the current fiscal year.

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Several analysts have recently commented on the company. UBS AG reissued a “buy” rating and issued a $135.00 price objective (up from $132.00) on shares of Vertex Pharmaceuticals in a research note on Friday, May 19th. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Group LLC reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, April 30th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $162.88.

In related news, CMO Jeffrey Chodakewitz sold 3,438 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $127.80, for a total value of $439,376.40. Following the completion of the transaction, the chief marketing officer now owns 125,949 shares of the company’s stock, valued at approximately $16,096,282.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey M. Leiden sold 147,101 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $129.50, for a total transaction of $19,049,579.50. Following the completion of the transaction, the chief executive officer now directly owns 312,142 shares of the company’s stock, valued at approximately $40,422,389. The disclosure for this sale can be found here. Insiders sold a total of 751,042 shares of company stock valued at $113,078,257 in the last ninety days. 1.80% of the stock is currently 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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