Stonegate Investment Group LLC Cuts Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Stonegate Investment Group LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,276 shares of the pharmaceutical company’s stock after selling 154 shares during the quarter. Stonegate Investment Group LLC’s holdings in Vertex Pharmaceuticals were worth $1,333,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of VRTX. Sherbrooke Park Advisers LLC boosted its position in shares of Vertex Pharmaceuticals by 65.3% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 2,645 shares of the pharmaceutical company’s stock valued at $920,000 after purchasing an additional 1,045 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Vertex Pharmaceuticals by 6.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 432,937 shares of the pharmaceutical company’s stock valued at $150,550,000 after purchasing an additional 26,523 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vertex Pharmaceuticals by 1.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 427,001 shares of the pharmaceutical company’s stock valued at $148,485,000 after purchasing an additional 5,514 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $816,000. Finally, Morgan Stanley boosted its position in shares of Vertex Pharmaceuticals by 3.2% in the 3rd quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock valued at $998,050,000 after purchasing an additional 89,217 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $409.42 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1-year low of $313.47 and a 1-year high of $448.40. The company has a market capitalization of $105.76 billion, a P/E ratio of 29.48, a PEG ratio of 2.29 and a beta of 0.35. The business has a 50 day moving average price of $421.74 and a 200 day moving average price of $392.87. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last released its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business posted $3.33 EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research analyst reports. HC Wainwright upped their target price on Vertex Pharmaceuticals from $397.00 to $457.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 6th. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 6th. Barclays increased their price objective on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, Sanford C. Bernstein cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $420.48.

Check Out Our Latest Stock Analysis on Vertex Pharmaceuticals

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the transaction, the executive vice president now directly owns 74,364 shares of the company’s stock, valued at approximately $31,250,727.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the transaction, the executive vice president now owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Kristen Ambrose sold 1,374 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $577,409.76. Following the transaction, the chief accounting officer now directly owns 9,676 shares of the company’s stock, valued at approximately $4,066,242.24. The disclosure for this sale can be found here. Insiders sold 19,029 shares of company stock valued at $7,989,227 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Vertex Pharmaceuticals Profile

(Free Report)

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.

Further Reading

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

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