Todays Report: The Tokio Marine Asset Management Co. Ltd. Reduces Position in Vertex Pharmaceuticals Inc. (VRTX)

The Tokio Marine Asset Management Co. Ltd. Reduces Position in Vertex Pharmaceuticals Inc. (VRTX)

Tokio Marine Asset Management Co. Ltd. reduced its position in shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,880 shares of the pharmaceutical company’s stock after selling 382 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $678,000 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. Capital Fund Management S.A. bought a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $1,101,000. Retirement Systems of Alabama increased its position in Vertex Pharmaceuticals by 6.2% in the second quarter. Retirement Systems of Alabama now owns 176,906 shares of the pharmaceutical company’s stock valued at $15,217,000 after buying an additional 10,364 shares during the period. Conning Inc. increased its position in Vertex Pharmaceuticals by 0.3% in the second quarter. Conning Inc. now owns 5,740 shares of the pharmaceutical company’s stock valued at $494,000 after buying an additional 20 shares during the period. Strs Ohio increased its position in Vertex Pharmaceuticals by 9.9% in the second quarter. Strs Ohio now owns 346,339 shares of the pharmaceutical company’s stock valued at $29,792,000 after buying an additional 31,241 shares during the period. Finally, Rothschild Capital Partners LLC bought a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $334,000. 96.19% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) traded up 0.87% during trading on Friday, reaching $85.70. The company’s stock had a trading volume of 983,269 shares. Vertex Pharmaceuticals Inc. has a one year low of $75.90 and a one year high of $134.71. The firm’s market capitalization is $21.23 billion. The stock has a 50-day moving average of $92.75 and a 200 day moving average of $89.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business earned $431.61 million during the quarter, compared to analysts’ expectations of $428.08 million. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The company’s revenue for the quarter was up 159.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Inc. will post $0.89 EPS for the current fiscal year.

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday. RBC Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, October 1st. Jefferies Group reaffirmed a “buy” rating and issued a $104.00 price objective (down previously from $107.00) on shares of Vertex Pharmaceuticals in a research note on Friday, September 30th. Leerink Swann reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, September 30th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $115.00 price objective (down previously from $128.00) on shares of Vertex Pharmaceuticals in a research note on Friday, September 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $117.60.

In other news, Director Joshua S. Boger sold 7,100 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $100.24, for a total value of $711,704.00. Following the completion of the transaction, the director now owns 274,725 shares of the company’s stock, valued at approximately $27,538,434. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joshua S. Boger sold 6,500 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $90.33, for a total value of $587,145.00. Following the completion of the transaction, the director now directly owns 274,725 shares of the company’s stock, valued at approximately $24,815,909.25. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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