M&T Bank Corp Increases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

M&T Bank Corp boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 27,805 shares of the pharmaceutical company’s stock after acquiring an additional 3,347 shares during the period. M&T Bank Corp’s holdings in Vertex Pharmaceuticals were worth $8,073,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. OmniStar Financial Group Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $26,000. CX Institutional increased its position in Vertex Pharmaceuticals by 103.8% during the first quarter. CX Institutional now owns 108 shares of the pharmaceutical company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Vertex Pharmaceuticals during the first quarter worth approximately $28,000. Manchester Financial Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $30,000. Finally, Anderson Fisher LLC boosted its holdings in shares of Vertex Pharmaceuticals by 530.0% in the 2nd quarter. Anderson Fisher LLC now owns 126 shares of the pharmaceutical company’s stock valued at $37,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Several brokerages have commented on VRTX. Credit Suisse Group upped their price target on Vertex Pharmaceuticals from $298.00 to $328.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. JMP Securities raised their target price on shares of Vertex Pharmaceuticals from $255.00 to $285.00 and gave the company a “market outperform” rating in a research note on Thursday, April 30th. SunTrust Banks upped their price target on shares of Vertex Pharmaceuticals from $285.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Cantor Fitzgerald raised their target price on Vertex Pharmaceuticals from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Argus upped their target price on shares of Vertex Pharmaceuticals from $270.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $295.81.

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 2,786 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $300.00, for a total value of $835,800.00. Following the transaction, the executive vice president now owns 36,743 shares in the company, valued at $11,022,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles F. Wagner, Jr. sold 700 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $293.15, for a total value of $205,205.00. Following the completion of the transaction, the chief financial officer now directly owns 16,786 shares in the company, valued at $4,920,815.90. The disclosure for this sale can be found here. Insiders have sold 298,911 shares of company stock worth $82,787,831 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Shares of Vertex Pharmaceuticals stock opened at $272.00 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $165.23 and a 1 year high of $306.08. The company has a market cap of $70.52 billion, a P/E ratio of 34.34, a P/E/G ratio of 1.31 and a beta of 0.94. The company has a current ratio of 3.54, a quick ratio of 3.42 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $287.06 and a 200 day moving average price of $257.51.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, July 30th. The pharmaceutical company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.86. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.41 billion. Vertex Pharmaceuticals had a return on equity of 30.45% and a net margin of 38.51%. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 7.6 earnings per share for the current fiscal year.

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.

Featured Article: What is a stock buyback?

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

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

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.