Natixis Advisors L.P. Has $23.77 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Natixis Advisors L.P. boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,606 shares of the pharmaceutical company’s stock after buying an additional 8,585 shares during the quarter. Natixis Advisors L.P. owned approximately 0.05% of Vertex Pharmaceuticals worth $23,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRTX. Next Capital Management LLC lifted its holdings in Vertex Pharmaceuticals by 84.4% during the 2nd quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock worth $30,000 after buying an additional 76 shares during the period. Evolution Wealth Advisors LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth about $32,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in Vertex Pharmaceuticals by 118.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 96 shares during the period. Pittenger & Anderson Inc. lifted its holdings in Vertex Pharmaceuticals by 64.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 75 shares during the period. Finally, Thor Advisors LLC acquired a new position in Vertex Pharmaceuticals during the 1st quarter worth about $37,000. 94.00% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Stuart A. Arbuckle sold 2,125 shares of the business’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $181.89, for a total value of $386,516.25. Following the completion of the sale, the executive vice president now directly owns 35,365 shares of the company’s stock, valued at approximately $6,432,539.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Altshuler sold 12,501 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $186.38, for a total value of $2,329,936.38. Following the completion of the sale, the executive vice president now directly owns 35,803 shares of the company’s stock, valued at $6,672,963.14. The disclosure for this sale can be found here. Insiders sold a total of 93,641 shares of company stock valued at $16,705,255 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Several research analysts have commented on VRTX shares. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Maxim Group reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd. Citigroup reissued a “buy” rating and issued a $205.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, May 23rd. Needham & Company LLC downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $213.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $210.68.

Shares of NASDAQ:VRTX traded up $1.47 during midday trading on Friday, reaching $181.33. The company’s stock had a trading volume of 802,289 shares, compared to its average volume of 997,868. The firm has a market capitalization of $46.23 billion, a price-to-earnings ratio of 64.07, a PEG ratio of 2.34 and a beta of 1.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.63 and a current ratio of 3.74. The firm has a 50 day moving average price of $178.07 and a two-hundred day moving average price of $178.04. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $151.80 and a fifty-two week high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.24. The company had revenue of $941.29 million for the quarter, compared to the consensus estimate of $884.66 million. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The firm’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.41 earnings per share for the current year.

Vertex Pharmaceuticals announced that its Board of Directors has approved a share repurchase plan on Wednesday, July 31st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the pharmaceutical company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

See Also: Equity Income

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

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