KBC Group NV Has $56.80 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

KBC Group NV lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,208 shares of the pharmaceutical company’s stock after selling 13,912 shares during the quarter. KBC Group NV’s holdings in Vertex Pharmaceuticals were worth $56,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SEB Asset Management AB bought a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $62,940,000. Swiss National Bank boosted its stake in Vertex Pharmaceuticals by 6.0% during the 1st quarter. Swiss National Bank now owns 744,600 shares of the pharmaceutical company’s stock valued at $332,494,000 after purchasing an additional 42,000 shares during the period. Mediolanum International Funds Ltd boosted its stake in Vertex Pharmaceuticals by 4.0% during the 1st quarter. Mediolanum International Funds Ltd now owns 5,705 shares of the pharmaceutical company’s stock valued at $2,528,000 after purchasing an additional 218 shares during the period. Future Fund LLC grew its holdings in Vertex Pharmaceuticals by 3.2% in the 1st quarter. Future Fund LLC now owns 4,957 shares of the pharmaceutical company’s stock valued at $2,213,000 after buying an additional 154 shares during the last quarter. Finally, PeakShares LLC grew its holdings in Vertex Pharmaceuticals by 9.5% in the 1st quarter. PeakShares LLC now owns 2,458 shares of the pharmaceutical company’s stock valued at $1,098,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group upped their price target on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Canaccord Genuity Group lowered their price objective on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research note on Tuesday, May 5th. Sanford C. Bernstein dropped their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Barclays upped their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $559.61.

Vertex Pharmaceuticals Stock Down 1.1%

Shares of VRTX opened at $480.50 on Tuesday. The stock’s 50-day moving average price is $463.45 and its 200 day moving average price is $459.19. The firm has a market capitalization of $121.95 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 2.11 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $4.06 EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current year.

Insider Activity

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the sale, the director owned 4,924 shares of the company’s stock, valued at $2,086,446.52. The trade was a 6.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. This represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,874 shares of company stock valued at $8,707,966. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals 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.