Westpac Banking Corp Has $11.56 Million Position in Vertex Pharmaceuticals Incorporated (VRTX)

Westpac Banking Corp increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 125.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,052 shares of the pharmaceutical company’s stock after purchasing an additional 42,281 shares during the period. Westpac Banking Corp’s holdings in Vertex Pharmaceuticals were worth $11,563,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Vertex Pharmaceuticals by 0.8% during the second quarter. BlackRock Inc. now owns 19,405,981 shares of the pharmaceutical company’s stock worth $2,500,849,000 after purchasing an additional 159,601 shares in the last quarter. Vanguard Group Inc. raised its holdings in Vertex Pharmaceuticals by 3.1% during the second quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock worth $2,188,196,000 after purchasing an additional 504,982 shares in the last quarter. Jennison Associates LLC raised its holdings in Vertex Pharmaceuticals by 253.8% during the second quarter. Jennison Associates LLC now owns 5,055,122 shares of the pharmaceutical company’s stock worth $651,454,000 after purchasing an additional 3,626,368 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Vertex Pharmaceuticals by 28.1% during the second quarter. TIAA CREF Investment Management LLC now owns 2,077,303 shares of the pharmaceutical company’s stock worth $267,702,000 after purchasing an additional 456,290 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Vertex Pharmaceuticals by 4.5% during the second quarter. Wells Fargo & Company MN now owns 1,916,227 shares of the pharmaceutical company’s stock worth $246,944,000 after purchasing an additional 83,314 shares in the last quarter. 93.36% of the stock is owned by hedge funds and other institutional investors.

VRTX has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. J P Morgan Chase & Co set a $184.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price target for the company in a report on Wednesday, July 19th. Vetr cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $181.00 price target for the company. in a report on Monday, September 4th. Finally, Citigroup Inc. reissued a “buy” rating and set a $190.00 price target (up from $135.00) on shares of Vertex Pharmaceuticals in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $173.15.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The business had revenue of $578.20 million for the quarter, compared to the consensus estimate of $522.07 million. During the same period in the previous year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 39.7% on a year-over-year basis.

In other news, COO Ian F. Smith sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $145.06, for a total transaction of $10,879,500.00. Following the sale, the chief operating officer now owns 114,188 shares in the company, valued at $16,564,111.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stuart A. Arbuckle sold 6,290 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $143.97, for a total transaction of $905,571.30. Following the sale, the executive vice president now owns 116,952 shares in the company, valued at approximately $16,837,579.44. The disclosure for this sale can be found here. Insiders sold a total of 198,030 shares of company stock worth $28,878,352 over the last quarter. Insiders own 1.80% of the company’s stock.

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Vertex Pharmaceuticals Company Profile

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.

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

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