Atria Investments Inc Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Atria Investments Inc lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,125 shares of the pharmaceutical company’s stock after selling 1,564 shares during the period. Atria Investments Inc’s holdings in Vertex Pharmaceuticals were worth $9,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in VRTX. Capital World Investors lifted its position in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after buying an additional 3,761,414 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after buying an additional 2,176,218 shares during the last quarter. Swedbank AB purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at $277,317,000. AMF Tjanstepension AB purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $257,655,000. Finally, Vanguard Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after buying an additional 394,338 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.8 %

Shares of VRTX opened at $516.74 on Monday. The firm has a market cap of $133.08 billion, a price-to-earnings ratio of -259.67 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.26 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $519.88. The firm has a 50 day moving average price of $475.40 and a 200-day moving average price of $468.45.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the business posted $3.67 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent research reports. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Scotiabank boosted their price objective on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $495.96.

Insider Buying and Selling

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.