Zurich Insurance Group Ltd FI Reduces Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Zurich Insurance Group Ltd FI trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,527 shares of the pharmaceutical company’s stock after selling 1,735 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Vertex Pharmaceuticals were worth $20,750,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Truvestments Capital LLC boosted its position in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after acquiring an additional 23 shares during the last quarter. Simon Quick Advisors LLC boosted its position in Vertex Pharmaceuticals by 1.1% during the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock worth $900,000 after acquiring an additional 24 shares during the last quarter. Spinnaker Trust boosted its position in Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock worth $497,000 after acquiring an additional 25 shares during the last quarter. Strategic Advisors LLC boosted its position in Vertex Pharmaceuticals by 0.6% during the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock worth $1,807,000 after acquiring an additional 25 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its position in Vertex Pharmaceuticals by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company’s stock worth $1,451,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $447.18 on Wednesday. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm has a 50-day simple moving average of $480.76 and a 200 day simple moving average of $464.03. The company has a market cap of $114.83 billion, a PE ratio of -203.26, a P/E/G ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the company earned $4.76 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VRTX shares. Scotiabank decreased their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 6th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a report on Thursday, January 30th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $515.04.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the completion of the transaction, the executive vice president now owns 58,539 shares in the company, valued at approximately $27,825,928.26. This represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,813 shares of company stock valued at $1,889,514 in the last quarter. Insiders own 0.20% of the company’s stock.

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.