Handelsinvest Investeringsforvaltning Sells 610 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Handelsinvest Investeringsforvaltning cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.3% during the 1st quarter, Holdings Channel.com reports. 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of VRTX. Vanguard Group Inc. increased its position in Vertex Pharmaceuticals by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 22,282,180 shares of the pharmaceutical company’s stock worth $9,066,396,000 after acquiring an additional 298,824 shares during the period. Capital World Investors grew its holdings in shares of Vertex Pharmaceuticals by 21.3% during the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock worth $8,872,586,000 after purchasing an additional 3,824,103 shares in the last quarter. Jennison Associates LLC raised its stake in Vertex Pharmaceuticals by 3.9% in the fourth quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock valued at $1,605,146,000 after purchasing an additional 147,248 shares in the last quarter. Capital Research Global Investors grew its stake in Vertex Pharmaceuticals by 5.8% during the fourth quarter. Capital Research Global Investors now owns 3,567,664 shares of the pharmaceutical company’s stock worth $1,451,647,000 after buying an additional 195,080 shares in the last quarter. Finally, Norges Bank bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $1,237,877,000. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Edward Morrow Atkinson III sold 7,288 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the completion of the sale, the executive vice president now owns 15,972 shares in the company, valued at $7,634,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the transaction, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. Insiders sold a total of 28,366 shares of company stock valued at $13,058,787 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VRTX. Wells Fargo & Company increased their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Argus lifted their target price on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, June 17th. UBS Group reduced their price target on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. HC Wainwright reiterated a “buy” rating and set a $462.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Finally, Guggenheim increased their target price on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $448.61.

Vertex Pharmaceuticals Price Performance

VRTX opened at $472.89 on Wednesday. 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. Vertex Pharmaceuticals Incorporated has a 1 year low of $335.82 and a 1 year high of $486.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. The stock’s 50 day simple moving average is $446.31 and its 200 day simple moving average is $427.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. During the same period last year, the company earned $2.67 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

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.