DekaBank Deutsche Girozentrale Has $67 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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DekaBank Deutsche Girozentrale lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 250.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 374,164 shares of the pharmaceutical company’s stock after acquiring an additional 267,507 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Vertex Pharmaceuticals were worth $67,002,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. grew its holdings in Vertex Pharmaceuticals by 0.5% during the second quarter. Daiwa Securities Group Inc. now owns 11,806 shares of the pharmaceutical company’s stock valued at $2,165,000 after purchasing an additional 61 shares during the period. Covenant Asset Management LLC grew its holdings in Vertex Pharmaceuticals by 0.4% during the first quarter. Covenant Asset Management LLC now owns 18,115 shares of the pharmaceutical company’s stock valued at $3,332,000 after purchasing an additional 66 shares during the period. Signaturefd LLC grew its holdings in Vertex Pharmaceuticals by 7.6% during the second quarter. Signaturefd LLC now owns 1,016 shares of the pharmaceutical company’s stock valued at $186,000 after purchasing an additional 72 shares during the period. ETF Managers Group LLC grew its holdings in Vertex Pharmaceuticals by 9.1% during the first quarter. ETF Managers Group LLC now owns 877 shares of the pharmaceutical company’s stock valued at $161,000 after purchasing an additional 73 shares during the period. Finally, Pittenger & Anderson Inc. grew its holdings in Vertex Pharmaceuticals by 64.7% during the first quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 75 shares during the period. Institutional investors own 94.70% of the company’s stock.

In related news, CEO Jeffrey M. Leiden sold 113,432 shares of Vertex Pharmaceuticals stock in a transaction on Friday, May 24th. The shares were sold at an average price of $175.10, for a total value of $19,861,943.20. Following the completion of the sale, the chief executive officer now owns 219,719 shares of the company’s stock, valued at approximately $38,472,796.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 720 shares of Vertex Pharmaceuticals stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $167.08, for a total transaction of $120,297.60. Following the completion of the sale, the director now directly owns 7,260 shares of the company’s stock, valued at approximately $1,213,000.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,292 shares of company stock valued at $32,507,560. Insiders own 0.70% of the company’s stock.

NASDAQ VRTX opened at $183.91 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $151.80 and a 1 year high of $195.81. The company has a market capitalization of $46.32 billion, a price-to-earnings ratio of 64.99, a P/E/G ratio of 2.38 and a beta of 1.40. The stock’s fifty day moving average price is $176.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.63.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.24. The business had revenue of $941.29 million for the quarter, compared to the consensus estimate of $884.66 million. Vertex Pharmaceuticals had a net margin of 64.13% and a return on equity of 21.73%. Vertex Pharmaceuticals’s revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 earnings per share. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 3.41 EPS for the current fiscal year.

Vertex Pharmaceuticals announced that its board has initiated a stock repurchase plan on Wednesday, July 31st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the pharmaceutical company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

VRTX has been the subject of a number of analyst reports. Goldman Sachs Group restated a “buy” rating and set a $220.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, May 23rd. Stifel Nicolaus boosted their price objective on shares of Vertex Pharmaceuticals from $205.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Credit Suisse Group boosted their price objective on shares of Vertex Pharmaceuticals from $209.00 to $213.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Citigroup reiterated a “buy” rating and issued a $205.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Vertex Pharmaceuticals currently has an average rating of “Buy” and an average price target of $206.63.

Vertex Pharmaceuticals 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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