Raymond James Financial Services Advisors Inc. Grows Position in Vertex Pharmaceuticals Incorporated (VRTX)

Raymond James Financial Services Advisors Inc. increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 338.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,356 shares of the pharmaceutical company’s stock after buying an additional 21,887 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $4,311,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in Vertex Pharmaceuticals by 15.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock worth $127,000 after buying an additional 132 shares in the last quarter. FNY Partners Fund LP increased its stake in shares of Vertex Pharmaceuticals by 900.0% during the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock valued at $128,000 after purchasing an additional 900 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $186,000. State of Alaska Department of Revenue bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $197,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $203,000. 92.42% of the stock is owned by institutional investors.

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A number of brokerages have weighed in on VRTX. Oppenheimer Holdings, Inc. raised their target price on shares of Vertex Pharmaceuticals from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. BMO Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, September 27th. Robert W. Baird reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Vertex Pharmaceuticals in a research note on Sunday, September 17th. Finally, Argus raised their target price on shares of Vertex Pharmaceuticals from $71.46 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $173.15.

Vertex Pharmaceuticals Incorporated (VRTX) opened at $147.04 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14. Vertex Pharmaceuticals Incorporated has a 52-week low of $71.46 and a 52-week high of $167.85. The firm has a market cap of $36,698.73, a P/E ratio of 241.85, a price-to-earnings-growth ratio of 3.69 and a beta of 1.63.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 last year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was up 39.7% on a year-over-year basis. sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 0.72 EPS for the current fiscal year.

In other news, EVP Stuart A. Arbuckle sold 221 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $147.29, for a total transaction of $32,551.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Jeffrey Chodakewitz sold 3,437 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $151.64, for a total transaction of $521,186.68. The disclosure for this sale can be found here. Insiders sold 220,315 shares of company stock worth $32,107,270 over the last quarter. Insiders own 1.80% of the company’s stock.

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.

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

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