Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is Bellevue Group AG’s 4th Largest Position

Bellevue Group AG lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 668,750 shares of the pharmaceutical company’s stock after selling 67,640 shares during the quarter. Vertex Pharmaceuticals comprises 4.3% of Bellevue Group AG’s holdings, making the stock its 4th largest position. Bellevue Group AG’s holdings in Vertex Pharmaceuticals were worth $279,544,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 1.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after purchasing an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in shares of Vertex Pharmaceuticals by 3.9% during the 4th 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 grew its position in shares of Vertex Pharmaceuticals by 0.8% in the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after purchasing an additional 24 shares in the last quarter. Johnson Financial Group Inc. increased its holdings in shares of Vertex Pharmaceuticals by 2.5% in the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after purchasing an additional 24 shares during the last quarter. Finally, Baystate Wealth Management LLC lifted its position in Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after buying an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the sale, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at $52,767,484. The sale was disclosed in a 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, May 29th. The shares were sold at an average price of $445.56, for a total transaction of $1,015,876.80. Following the completion of the transaction, the chief marketing officer now directly owns 34,659 shares in the company, valued at $15,442,664.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,128 shares of company stock valued at $22,839,005. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Up 0.6 %

Shares of NASDAQ:VRTX traded up $3.00 during trading hours on Friday, reaching $495.26. The stock had a trading volume of 774,126 shares, compared to its average volume of 1,047,785. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $503.99. The firm’s 50 day moving average is $474.18 and its 200-day moving average is $437.50. The stock has a market capitalization of $127.80 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 2.61 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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 company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm earned $2.67 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 13.3% on a year-over-year basis. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 14.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price for the company. Oppenheimer reissued an “outperform” rating and issued a $500.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Royal Bank of Canada cut their price target on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a report on Tuesday, June 11th. Argus increased their price objective on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, 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 report on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $460.30.

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.