Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Lessened by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 930,999 shares of the pharmaceutical company’s stock after selling 9,507 shares during the quarter. Vertex Pharmaceuticals accounts for about 2.0% of Candriam Luxembourg S.C.A.’s investment portfolio, making the stock its 4th biggest position. Candriam Luxembourg S.C.A. owned approximately 0.36% of Vertex Pharmaceuticals worth $158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. grew its stake in Vertex Pharmaceuticals by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 11,806 shares of the pharmaceutical company’s stock worth $2,165,000 after purchasing an additional 61 shares in the last quarter. Victory Capital Management Inc. grew its stake in Vertex Pharmaceuticals by 0.4% in the second quarter. Victory Capital Management Inc. now owns 19,094 shares of the pharmaceutical company’s stock worth $3,501,000 after purchasing an additional 67 shares in the last quarter. Kistler Tiffany Companies LLC grew its stake in Vertex Pharmaceuticals by 11.2% in the third quarter. Kistler Tiffany Companies LLC now owns 683 shares of the pharmaceutical company’s stock worth $116,000 after purchasing an additional 69 shares in the last quarter. Signaturefd LLC grew its stake in Vertex Pharmaceuticals by 7.6% in the second quarter. Signaturefd LLC now owns 1,016 shares of the pharmaceutical company’s stock worth $186,000 after purchasing an additional 72 shares in the last quarter. Finally, Next Capital Management LLC grew its stake in Vertex Pharmaceuticals by 84.4% in the second quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock worth $30,000 after purchasing an additional 76 shares in the last quarter. 94.79% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Margaret G. Mcglynn sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $185.00, for a total transaction of $1,850,000.00. Following the sale, the director now owns 14,124 shares of the company’s stock, valued at $2,612,940. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Altshuler sold 12,501 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $186.38, for a total value of $2,329,936.38. Following the sale, the executive vice president now directly owns 35,803 shares in the company, valued at approximately $6,672,963.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,803 shares of company stock valued at $7,157,258. Insiders own 0.70% of the company’s stock.

A number of brokerages have commented on VRTX. ValuEngine downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. HC Wainwright restated a “buy” rating and issued a $220.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, August 1st. Morgan Stanley lifted their target price on Vertex Pharmaceuticals from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. BidaskClub upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $211.57.

Shares of NASDAQ VRTX traded down $1.09 during midday trading on Monday, hitting $175.14. 5,863 shares of the company’s stock were exchanged, compared to its average volume of 1,041,919. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.63. The stock’s 50 day moving average price is $174.45 and its 200-day moving average price is $175.65. The firm has a market cap of $45.68 billion, a P/E ratio of 62.17, a PEG ratio of 2.18 and a beta of 1.43. Vertex Pharmaceuticals Incorporated has a twelve month low of $151.80 and a twelve month high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.24. The business had revenue of $941.29 million during 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 business’s revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 3.42 EPS for the current fiscal year.

Vertex Pharmaceuticals announced that its Board of Directors has approved a stock buyback program on Wednesday, July 31st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the pharmaceutical company to buy up to 1.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Vertex Pharmaceuticals Company Profile

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.

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

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