Prudential Financial Inc. increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 444,725 shares of the pharmaceutical company’s stock after buying an additional 50,350 shares during the period. Prudential Financial Inc. owned about 0.18% of Vertex Pharmaceuticals worth $57,312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRTX. Meiji Yasuda Asset Management Co Ltd. raised its position in Vertex Pharmaceuticals by 68.6% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,409 shares of the pharmaceutical company’s stock worth $697,000 after buying an additional 2,200 shares during the last quarter. American Century Companies Inc. raised its position in Vertex Pharmaceuticals by 39.8% in the second quarter. American Century Companies Inc. now owns 224,353 shares of the pharmaceutical company’s stock worth $28,912,000 after buying an additional 63,854 shares during the last quarter. Geneva Advisors LLC bought a new position in Vertex Pharmaceuticals during the second quarter worth $326,000. Aviva PLC raised its position in Vertex Pharmaceuticals by 1.3% in the second quarter. Aviva PLC now owns 154,658 shares of the pharmaceutical company’s stock worth $19,932,000 after buying an additional 1,980 shares during the last quarter. Finally, First National Trust Co. bought a new position in Vertex Pharmaceuticals during the second quarter worth $232,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at 153.40 on Tuesday. The company has a market cap of $38.67 billion, a P/E ratio of 147.36 and a beta of 1.77. Vertex Pharmaceuticals Incorporated has a 12 month low of $71.46 and a 12 month high of $167.85. The firm has a 50-day moving average price of $149.67 and a 200 day moving average price of $120.19.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The company had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. During the same period last year, the firm earned $0.24 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 26.1% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post $1.60 earnings per share for the current year.

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A number of research analysts have weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 22nd. BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Cowen and Company reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, August 1st. Finally, Argus boosted their price objective on Vertex Pharmaceuticals from $71.46 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $162.88.

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 70,969 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $128.06, for a total value of $9,088,290.14. Following the sale, the executive vice president now directly owns 145,061 shares in the company, valued at $18,576,511.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Paul M. Silva sold 2,577 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $133.36, for a total value of $343,668.72. Following the completion of the sale, the senior vice president now owns 22,648 shares in the company, valued at $3,020,337.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 751,042 shares of company stock worth $113,078,257. 1.80% of the stock is owned by insiders.

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

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