Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 40.0% in the 3rd quarter, Holdings Channel reports. The firm owned 2,709 shares of the pharmaceutical company’s stock after selling 1,805 shares during the period. Strategy Asset Managers LLC’s holdings in Vertex Pharmaceuticals were worth $1,260,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $26,893,000. Prospera Private Wealth LLC raised its holdings in Vertex Pharmaceuticals by 1.8% in the 3rd quarter. Prospera Private Wealth LLC now owns 1,699 shares of the pharmaceutical company’s stock valued at $790,000 after acquiring an additional 30 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Vertex Pharmaceuticals by 4.7% in the 3rd quarter. Avior Wealth Management LLC now owns 2,533 shares of the pharmaceutical company’s stock worth $1,178,000 after purchasing an additional 113 shares in the last quarter. West Family Investments Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 5.0% during the 3rd quarter. West Family Investments Inc. now owns 2,664 shares of the pharmaceutical company’s stock worth $1,239,000 after purchasing an additional 126 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Vertex Pharmaceuticals by 5.7% in the third quarter. PNC Financial Services Group Inc. now owns 79,429 shares of the pharmaceutical company’s stock valued at $36,941,000 after purchasing an additional 4,269 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $448.01 on Wednesday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 52-week low of $346.29 and a 52-week high of $519.88. The firm has a market cap of $115.38 billion, a PE ratio of -225.13 and a beta of 0.39. The company’s 50 day moving average is $475.85 and its two-hundred day moving average is $472.89.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the firm earned $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’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 transaction, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,445 shares of company stock worth $2,218,394. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Citigroup started coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. Oppenheimer dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Truist Financial reaffirmed a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $499.12.

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.