Pendal Group Ltd Has $8.94 Million Position in Vertex Pharmaceuticals Incorporated (VRTX)

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Pendal Group Ltd boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,397 shares of the pharmaceutical company’s stock after buying an additional 3,649 shares during the quarter. Pendal Group Ltd’s holdings in Vertex Pharmaceuticals were worth $8,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kaizen Advisory LLC raised its position in Vertex Pharmaceuticals by 147.3% in the 2nd quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 358 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $123,000. Sun Life Financial INC raised its position in Vertex Pharmaceuticals by 266.1% in the 2nd quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock valued at $118,000 after buying an additional 503 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $125,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Vertex Pharmaceuticals by 3,126.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock valued at $126,000 after buying an additional 719 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

NASDAQ:VRTX traded up $4.66 during trading on Wednesday, reaching $179.89. The company’s stock had a trading volume of 155,084 shares, compared to its average volume of 1,711,917. The company has a market capitalization of $44.29 billion, a PE ratio of 224.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.71 and a quick ratio of 3.59. Vertex Pharmaceuticals Incorporated has a 12 month low of $136.50 and a 12 month high of $194.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.07. The company had revenue of $784.54 million during the quarter, compared to the consensus estimate of $782.95 million. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. During the same quarter in the prior year, the company earned $0.53 EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current year.

A number of equities research analysts recently commented on the company. BMO Capital Markets lowered their price target on Vertex Pharmaceuticals from $204.00 to $192.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. HC Wainwright raised Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Friday, October 26th. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $207.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Raymond James set a $201.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, October 25th. Finally, Oppenheimer increased their price target on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Three 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’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $202.14.

In other news, CFO Thomas Graney sold 1,076 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $193.24, for a total transaction of $207,926.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Altshuler sold 4,126 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $173.51, for a total value of $715,902.26. Following the transaction, the executive vice president now owns 40,909 shares of the company’s stock, valued at approximately $7,098,120.59. The disclosure for this sale can be found here. Insiders have sold a total of 27,425 shares of company stock valued at $5,095,719 in the last quarter. 0.75% of the stock is owned by corporate insiders.

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Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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

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