Northwestern Mutual Wealth Management Co. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 988 shares of the pharmaceutical company’s stock after acquiring an additional 132 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Vertex Pharmaceuticals were worth $127,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VRTX. US Bancorp DE increased its position in shares of Vertex Pharmaceuticals by 104.9% during the first quarter. US Bancorp DE now owns 7,324 shares of the pharmaceutical company’s stock worth $801,000 after acquiring an additional 3,749 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $231,000. Martingale Asset Management L P bought a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $1,040,000. Envestnet Asset Management Inc. increased its position in shares of Vertex Pharmaceuticals by 23.9% during the first quarter. Envestnet Asset Management Inc. now owns 18,634 shares of the pharmaceutical company’s stock worth $2,038,000 after acquiring an additional 3,597 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Vertex Pharmaceuticals by 22.0% during the first quarter. Nordea Investment Management AB now owns 12,308 shares of the pharmaceutical company’s stock worth $1,346,000 after acquiring an additional 2,223 shares in the last quarter. 92.85% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This report was reported by Daily Political and is owned by of Daily Political. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/09/22/northwestern-mutual-wealth-management-co-raises-stake-in-vertex-pharmaceuticals-incorporated-vrtx.html.

VRTX has been the subject of several research reports. Vetr raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 price objective for the company in a research report on Tuesday, July 18th. Royal Bank Of Canada initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, September 14th. They set an “outperform” rating and a $175.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and set a $185.00 price objective (up previously from $155.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, July 19th. Credit Suisse Group increased their price objective on shares of Vertex Pharmaceuticals from $125.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 19th. Finally, UBS AG downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $135.00 to $174.00 in a research report on Wednesday, July 19th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $163.35.

In related news, CMO Jeffrey Chodakewitz sold 3,438 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $127.80, for a total value of $439,376.40. Following the transaction, the chief marketing officer now directly owns 125,949 shares of the company’s stock, valued at approximately $16,096,282.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey M. Leiden sold 216,624 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the completion of the transaction, the chief executive officer now directly owns 400,266 shares in the company, valued at $64,426,815.36. The disclosure for this sale can be found here. Insiders sold a total of 518,358 shares of company stock worth $83,072,822 over the last three months. 1.80% of the stock is owned by insiders.

Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 152.06 on Friday. The stock has a 50 day moving average of $154.59 and a 200 day moving average of $128.57. Vertex Pharmaceuticals Incorporated has a 12 month low of $71.46 and a 12 month high of $167.85. The company has a market capitalization of $38.34 billion, a price-to-earnings ratio of 146.07 and a beta of 1.75.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.62 EPS for the current fiscal year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

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

Receive News & Ratings for Vertex Pharmaceuticals Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.