Cumberland Partners Ltd Has $19.06 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cumberland Partners Ltd boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,326 shares of the pharmaceutical company’s stock after purchasing an additional 4,126 shares during the quarter. Vertex Pharmaceuticals accounts for approximately 1.3% of Cumberland Partners Ltd’s holdings, making the stock its 22nd biggest position. Cumberland Partners Ltd’s holdings in Vertex Pharmaceuticals were worth $19,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mutual Advisors LLC increased its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after buying an additional 21 shares during the period. Outlook Wealth Advisors LLC increased its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after acquiring an additional 24 shares during the period. Dunhill Financial LLC increased its stake in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Simon Quick Advisors LLC raised its position in Vertex Pharmaceuticals by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock worth $900,000 after purchasing an additional 24 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Vertex Pharmaceuticals by 4.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the pharmaceutical company’s stock worth $268,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of recent research reports. Bank of America dropped their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Scotiabank boosted their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, HC Wainwright restated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $505.57.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $471.76 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The business has a 50-day moving average price of $435.32 and a two-hundred day moving average price of $460.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.58 earnings per share for the current year.

Vertex Pharmaceuticals 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.