Nordea Investment Management AB Has $202.61 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Nordea Investment Management AB boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 447,169 shares of the pharmaceutical company’s stock after acquiring an additional 86,084 shares during the period. Nordea Investment Management AB owned 0.18% of Vertex Pharmaceuticals worth $202,612,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares during the last quarter. Wealthspire Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 20.7% during the 2nd quarter. Wealthspire Advisors LLC now owns 881 shares of the pharmaceutical company’s stock worth $392,000 after buying an additional 151 shares during the period. MAI Capital Management increased its stake in shares of Vertex Pharmaceuticals by 10.9% in the 2nd quarter. MAI Capital Management now owns 2,127 shares of the pharmaceutical company’s stock valued at $947,000 after acquiring an additional 209 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in shares of Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Mediolanum International Funds Ltd now owns 5,494 shares of the pharmaceutical company’s stock valued at $2,425,000 after acquiring an additional 66 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $215,000. 90.96% of the stock is currently owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 4,910 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total value of $2,394,361.50. Following the sale, the executive vice president owned 17,559 shares of the company’s stock, valued at $8,562,646.35. This trade represents a 21.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles F. Wagner, Jr. sold 9,532 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $461.00, for a total value of $4,394,252.00. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $17,391,225. This trade represents a 20.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 93,485 shares of company stock worth $43,967,586. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Down 0.9%

Vertex Pharmaceuticals stock opened at $454.04 on Monday. The company has a 50 day moving average of $469.17 and a 200-day moving average of $440.72. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $513.97. The stock has a market capitalization of $115.34 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 earnings per share. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRTX. Citigroup boosted their price objective on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Sanford C. Bernstein reissued an “outperform” rating and set a $577.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $570.00 to $596.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a “hold” rating in a research note on Tuesday, February 17th. Finally, Barclays boosted their target price on Vertex Pharmaceuticals from $606.00 to $607.00 and gave the company an “overweight” rating in a research note on Tuesday, February 17th. Twenty-four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $554.30.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.