Handelsbanken Fonder AB Sells 115,479 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Handelsbanken Fonder AB reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 28.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 296,036 shares of the pharmaceutical company's stock after selling 115,479 shares during the period. Handelsbanken Fonder AB owned 0.11% of Vertex Pharmaceuticals worth $119,214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cumberland Partners Ltd increased its position in shares of Vertex Pharmaceuticals by 9.6% during the fourth quarter. Cumberland Partners Ltd now owns 47,326 shares of the pharmaceutical company's stock valued at $19,058,000 after buying an additional 4,126 shares during the period. Fagan Associates Inc. increased its position in shares of Vertex Pharmaceuticals by 0.4% during the fourth quarter. Fagan Associates Inc. now owns 26,518 shares of the pharmaceutical company's stock valued at $10,679,000 after buying an additional 93 shares during the period. TKG Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 99.8% during the fourth quarter. TKG Advisors LLC now owns 1,247 shares of the pharmaceutical company's stock valued at $548,000 after buying an additional 623 shares during the period. Convergence Investment Partners LLC increased its position in shares of Vertex Pharmaceuticals by 109.8% during the fourth quarter. Convergence Investment Partners LLC now owns 1,095 shares of the pharmaceutical company's stock valued at $441,000 after buying an additional 573 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Vertex Pharmaceuticals by 0.8% during the fourth quarter. New York State Common Retirement Fund now owns 362,334 shares of the pharmaceutical company's stock valued at $145,912,000 after buying an additional 2,855 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ:VRTX traded up $3.91 during trading on Friday, reaching $484.24. 1,444,007 shares of the company traded hands, compared to its average volume of 1,541,286. The firm has a market capitalization of $124.35 billion, a price-to-earnings ratio of -220.11, a P/E/G ratio of 2.07 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The business's fifty day moving average is $435.64 and its 200-day moving average is $460.65.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lowered Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective for the company. in a report on Thursday, January 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Piper Sandler cut their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Barclays boosted their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Finally, BMO Capital Markets cut their price objective on Vertex Pharmaceuticals from $566.00 to $520.00 and set an "outperform" rating for the company in a report on Friday, December 20th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $505.61.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.