Man Group plc Acquires 171,786 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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Man Group plc increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 266.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,365 shares of the pharmaceutical company’s stock after buying an additional 171,786 shares during the period. Man Group plc owned 0.09% of Vertex Pharmaceuticals worth $51,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baird Financial Group Inc. increased its stake in Vertex Pharmaceuticals by 36.0% in the fourth quarter. Baird Financial Group Inc. now owns 45,392 shares of the pharmaceutical company’s stock valued at $9,941,000 after purchasing an additional 12,017 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Vertex Pharmaceuticals by 17.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,283 shares of the pharmaceutical company’s stock valued at $2,155,000 after acquiring an additional 1,513 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its position in shares of Vertex Pharmaceuticals by 13.6% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 8,787 shares of the pharmaceutical company’s stock valued at $1,924,000 after purchasing an additional 1,050 shares during the period. Caxton Associates LP bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $666,000. Finally, Advisors Asset Management Inc. raised its position in shares of Vertex Pharmaceuticals by 9.5% in the fourth quarter. Advisors Asset Management Inc. now owns 16,958 shares of the pharmaceutical company’s stock valued at $3,713,000 after purchasing an additional 1,473 shares during the period. 94.00% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on VRTX shares. HC Wainwright raised their price target on shares of Vertex Pharmaceuticals from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Wolfe Research initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, March 12th. They set an “outperform” rating and a $282.00 target price on the stock. Raymond James downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Cowen reiterated a “buy” rating and set a $260.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Vertex Pharmaceuticals from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $257.33.

NASDAQ:VRTX opened at $223.13 on Wednesday. The company has a quick ratio of 3.49, a current ratio of 3.61 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $52.43 billion, a P/E ratio of 49.47, a P/E/G ratio of 1.11 and a beta of 1.32. The company has a fifty day moving average of $230.65 and a 200-day moving average of $210.56. Vertex Pharmaceuticals Incorporated has a twelve month low of $163.68 and a twelve month high of $249.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, January 30th. The pharmaceutical company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.49. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.01 billion. Vertex Pharmaceuticals had a net margin of 28.27% and a return on equity of 20.97%. The firm’s quarterly revenue was up 62.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 6.43 EPS for the current fiscal year.

In other news, SVP Paul M. Silva sold 860 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $229.38, for a total transaction of $197,266.80. Following the sale, the senior vice president now directly owns 18,619 shares in the company, valued at $4,270,826.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Amit Sachdev sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $230.00, for a total transaction of $1,150,000.00. Following the completion of the transaction, the executive vice president now owns 41,190 shares in the company, valued at $9,473,700. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,108 shares of company stock worth $26,776,159. Company insiders own 0.70% of the company’s stock.

About Vertex Pharmaceuticals

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.

Read More: What is a Lock-Up Period?

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

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