Johnson Financial Group Inc. Sells 5,283 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Johnson Financial Group Inc. reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 71.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,110 shares of the pharmaceutical company's stock after selling 5,283 shares during the period. Johnson Financial Group Inc.'s holdings in Vertex Pharmaceuticals were worth $850,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Sugar Maple Asset Management LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $35,000. Golden State Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth $37,000. Truvestments Capital LLC grew its stake in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares during the period. Finally, ORG Partners LLC increased its position in shares of Vertex Pharmaceuticals by 108.2% during the 4th quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company's stock valued at $41,000 after purchasing an additional 53 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 0.3 %

Vertex Pharmaceuticals stock opened at $493.84 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market cap of $126.81 billion, a P/E ratio of -224.47, a PEG ratio of 2.11 and a beta of 0.50. The firm's fifty day moving average price is $489.78 and its 200-day moving average price is $466.35.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its 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%. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, April 22nd. Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 1st. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Scotiabank lifted their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price objective for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $514.91.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares of the company's stock, valued at $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last three months. 0.20% of the stock is owned by corporate insiders.

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.

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