Gradient Investments LLC Cuts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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Gradient Investments LLC lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,646 shares of the pharmaceutical company’s stock after selling 265 shares during the period. Gradient Investments LLC’s holdings in Vertex Pharmaceuticals were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in VRTX. Bradley Foster & Sargent Inc. CT boosted its position in shares of Vertex Pharmaceuticals by 47.5% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 2,791 shares of the pharmaceutical company’s stock worth $473,000 after acquiring an additional 899 shares during the last quarter. Evoke Wealth LLC purchased a new position in Vertex Pharmaceuticals during the third quarter valued at $84,000. Parametric Portfolio Associates LLC increased its holdings in Vertex Pharmaceuticals by 5.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 777,293 shares of the pharmaceutical company’s stock valued at $131,689,000 after acquiring an additional 39,435 shares during the last quarter. Metropolitan Life Insurance Co NY increased its holdings in Vertex Pharmaceuticals by 0.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 50,910 shares of the pharmaceutical company’s stock valued at $8,625,000 after acquiring an additional 336 shares during the last quarter. Finally, Corient Capital Partners LLC lifted its stake in Vertex Pharmaceuticals by 26.3% in the 3rd quarter. Corient Capital Partners LLC now owns 2,600 shares of the pharmaceutical company’s stock worth $441,000 after purchasing an additional 542 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Shares of VRTX stock opened at $234.15 on Thursday. Vertex Pharmaceuticals Incorporated has a 1 year low of $163.68 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.44 and a quick ratio of 3.32. The stock’s 50 day simple moving average is $221.97 and its two-hundred day simple moving average is $192.65. The company has a market cap of $59.08 billion, a PE ratio of 82.74, a price-to-earnings-growth ratio of 1.33 and a beta of 1.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.36. The firm had revenue of $949.83 million during the quarter, compared to analysts’ expectations of $942.90 million. Vertex Pharmaceuticals had a return on equity of 20.33% and a net margin of 59.24%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 3.72 EPS for the current year.

VRTX has been the subject of several research reports. Oppenheimer increased their price objective on shares of Vertex Pharmaceuticals from $230.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. ValuEngine cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Argus boosted their target price on Vertex Pharmaceuticals to $248.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Bank of America started coverage on Vertex Pharmaceuticals in a research note on Wednesday, October 16th. They set a “buy” rating and a $220.00 price target for the company. Finally, Leerink Swann raised their price target on Vertex Pharmaceuticals from $186.00 to $203.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the stock. Vertex Pharmaceuticals has an average rating of “Buy” and an average price target of $228.54.

In related news, Director William D. Young sold 20,000 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $218.93, for a total transaction of $4,378,600.00. Following the completion of the transaction, the director now directly owns 29,311 shares of the company’s stock, valued at approximately $6,417,057.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 107,831 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $190.00, for a total transaction of $20,487,890.00. Following the transaction, the chief executive officer now directly owns 178,707 shares of the company’s stock, valued at $33,954,330. The disclosure for this sale can be found here. Insiders have sold a total of 352,148 shares of company stock worth $71,313,185 in the last 90 days. 0.70% of the stock is currently owned by insiders.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

Further Reading: Differences Between Momentum Investing and Long Term Investing

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

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