Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Bellevue Group AG

Bellevue Group AG reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 owned 0.26% of Vertex Pharmaceuticals worth $279,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $25,000. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $27,000. Arlington Trust Co LLC boosted its position in shares of Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 33 shares during the period. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Finally, Baystate Wealth Management LLC increased 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 acquiring an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.6 %

Shares of NASDAQ:VRTX traded up $3.00 on Friday, reaching $495.26. 774,126 shares of the company traded hands, compared to its average volume of 1,047,785. The stock has a market capitalization of $127.80 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The business’s 50-day simple moving average is $474.18 and its 200 day simple moving average is $437.50. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 52 week low of $340.20 and a 52 week high of $503.99.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. The business 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%. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $2.67 EPS. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,350 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the sale, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Ourania Tatsis sold 2,350 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the transaction, the executive vice president now directly owns 53,523 shares of the company’s stock, valued at $23,502,484.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The disclosure for this sale can be found here. Insiders have sold a total of 48,128 shares of company stock valued at $22,839,005 over the last three months. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on VRTX shares. Wells Fargo & Company raised their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. TD Cowen upped their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler raised their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Guggenheim boosted their price target on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Cantor Fitzgerald raised their target price on shares of Vertex Pharmaceuticals from $440.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $460.30.

About Vertex Pharmaceuticals

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.