Focus Partners Wealth Trims Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Focus Partners Wealth cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,215 shares of the pharmaceutical company’s stock after selling 3,894 shares during the quarter. Focus Partners Wealth owned approximately 0.05% of Vertex Pharmaceuticals worth $54,522,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Chesapeake Asset Management LLC boosted its stake in Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Colonial Trust Co SC increased its position in shares of Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Total Investment Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $33,000. Financial Network Wealth Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its stake in shares of Vertex Pharmaceuticals by 345.0% in the 3rd quarter. Y.D. More Investments Ltd now owns 89 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Jonathan Biller sold 945 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $459,600.75. Following the completion of the transaction, the executive vice president owned 13,659 shares in the company, valued at approximately $6,643,054.65. This represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Duncan Mckechnie sold 4,910 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the completion of the sale, the executive vice president directly owned 17,559 shares in the company, valued at approximately $8,562,646.35. This trade represents a 21.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 91,156 shares of company stock valued at $42,845,497 over the last three months. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank lifted their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Citigroup lifted their target price on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Stifel Nicolaus boosted their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a report on Friday, February 13th. Finally, UBS Group raised their price objective on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $553.36.

Vertex Pharmaceuticals Trading Down 0.7%

NASDAQ:VRTX opened at $466.10 on Tuesday. The firm has a market capitalization of $118.40 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.00 and a beta of 0.31. The stock has a 50 day moving average of $470.37 and a 200-day moving average of $438.98. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $517.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the business posted $3.98 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.