Sei Investments Co. decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 63.4% during the first quarter, HoldingsChannel.com reports. The firm owned 133,226 shares of the pharmaceutical company’s stock after selling 230,797 shares during the quarter. Sei Investments Co.’s holdings in Vertex Pharmaceuticals were worth $59,494,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Motiv8 Investments LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $26,000. Swiss RE Ltd. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $28,000. Eagle Bay Advisors LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $29,000. IMG Wealth Management Inc. raised its holdings in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 50 shares during the period. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $33,000. 90.96% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on VRTX. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Royal Bank Of Canada raised their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Truist Financial boosted their price objective on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Barclays raised their target price on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Twenty-two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $559.61.
Insider Activity at Vertex Pharmaceuticals
In related news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the sale, the executive vice president directly owned 20,729 shares in the company, valued at $8,810,239.58. The trade was a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the transaction, the chief marketing officer owned 26,088 shares in the company, valued at $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,874 shares of company stock worth $8,707,966 in the last three months. Company insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Stock Up 0.9%
NASDAQ:VRTX opened at $477.36 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $533.67. The company has a market cap of $121.15 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.15 and a beta of 0.29. The company has a fifty day simple moving average of $465.77 and a two-hundred day simple moving average of $459.80.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the business earned $4.06 EPS. The company’s revenue was up 8.3% on a year-over-year basis. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current year.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.
Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.
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