Handelsinvest Investeringsforvaltning Reduces Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Handelsinvest Investeringsforvaltning cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,375 shares of the pharmaceutical company’s stock after selling 610 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Vertex Pharmaceuticals were worth $1,411,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Venturi Wealth Management LLC grew its position in Vertex Pharmaceuticals by 1.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock valued at $933,000 after acquiring an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in Vertex Pharmaceuticals by 3.9% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after purchasing an additional 24 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in Vertex Pharmaceuticals by 0.8% during the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after buying an additional 24 shares during the period. Johnson Financial Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 2.5% during the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after buying an additional 24 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 3.2% in the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock worth $326,000 after buying an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Down 0.2 %

VRTX opened at $472.89 on Wednesday. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. The firm has a market cap of $122.03 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.41 and a beta of 0.39. The stock has a fifty day moving average price of $446.31 and a 200-day moving average price of $427.25. Vertex Pharmaceuticals Incorporated has a 12 month low of $335.82 and a 12 month high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business earned $2.67 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the completion of the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce I. Sachs sold 7,073 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,366 shares of company stock valued at $13,058,787. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent research reports. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target on the stock in a research report on Thursday, April 11th. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. UBS Group reduced their target price on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Canaccord Genuity Group reiterated a “sell” rating and issued a $371.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. Finally, Wells Fargo & Company lifted their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

Vertex Pharmaceuticals Company 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.