Hardman Johnston Global Advisors LLC Sells 6,911 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hardman Johnston Global Advisors LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 114,909 shares of the pharmaceutical company’s stock after selling 6,911 shares during the quarter. Vertex Pharmaceuticals makes up about 2.1% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Hardman Johnston Global Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $53,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. Norden Group LLC increased its holdings in Vertex Pharmaceuticals by 61.3% in the 1st quarter. Norden Group LLC now owns 992 shares of the pharmaceutical company’s stock worth $415,000 after acquiring an additional 377 shares in the last quarter. Choreo LLC purchased a new position in Vertex Pharmaceuticals in the first quarter worth about $205,000. Quent Capital LLC raised its position in Vertex Pharmaceuticals by 33.0% during the first quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company’s stock valued at $167,000 after purchasing an additional 99 shares during the period. Whittier Trust Co. lifted its stake in shares of Vertex Pharmaceuticals by 5.2% in the 1st quarter. Whittier Trust Co. now owns 1,325 shares of the pharmaceutical company’s stock valued at $554,000 after purchasing an additional 65 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Vertex Pharmaceuticals by 714.3% in the 1st quarter. Larson Financial Group LLC now owns 228 shares of the pharmaceutical company’s stock worth $95,000 after acquiring an additional 200 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at $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. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on VRTX shares. StockNews.com upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday. Oppenheimer dropped their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $472.00 to $509.00 in a report on Monday, August 5th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, Scotiabank increased their target price on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $494.63.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $499.88 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The business’s 50 day moving average is $474.73 and its two-hundred day moving average is $466.76.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.88% and a negative net margin of 4.52%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the firm posted $3.67 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.