Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Decreased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,807 shares of the pharmaceutical company’s stock after selling 3,569 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $4,518,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $25,000. Arlington Trust Co LLC lifted its holdings in shares of Vertex Pharmaceuticals by 97.1% during the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares during the last quarter. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $28,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded up $4.29 during trading hours on Friday, reaching $474.57. The company had a trading volume of 848,818 shares, compared to its average volume of 1,139,765. The stock has a 50-day moving average of $452.07 and a two-hundred day moving average of $428.77. Vertex Pharmaceuticals Incorporated has a one year low of $335.82 and a one year high of $486.42. The firm has a market capitalization of $122.46 billion, a PE ratio of 30.80, a PEG ratio of 2.44 and a beta of 0.39. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the business posted $2.67 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.08 earnings per share for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,350 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total value of $1,031,908.50. Following the transaction, the executive vice president now owns 53,523 shares of the company’s stock, valued at $23,502,484.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,350 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total value of $1,031,908.50. Following the transaction, the executive vice president now owns 53,523 shares of the company’s stock, valued at $23,502,484.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares in the company, valued at approximately $15,477,162. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,366 shares of company stock valued at $13,058,787. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VRTX. HC Wainwright reiterated a “buy” rating and set a $462.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Piper Sandler boosted their target price on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Oppenheimer restated an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Finally, Redburn Atlantic began coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

Vertex Pharmaceuticals 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.