Sivik Global Healthcare LLC Has $4.65 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sivik Global Healthcare LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 33.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the pharmaceutical company's stock after selling 5,000 shares during the quarter. Vertex Pharmaceuticals makes up about 2.0% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 25th biggest position. Sivik Global Healthcare LLC's holdings in Vertex Pharmaceuticals were worth $4,651,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of VRTX. Quent Capital LLC increased its holdings in shares of Vertex Pharmaceuticals by 33.0% in the first quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company's stock valued at $167,000 after purchasing an additional 99 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Vertex Pharmaceuticals by 14.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,338 shares of the pharmaceutical company's stock worth $2,649,000 after purchasing an additional 808 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Vertex Pharmaceuticals by 10.8% during the first quarter. Blair William & Co. IL now owns 70,911 shares of the pharmaceutical company's stock worth $29,642,000 after purchasing an additional 6,937 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Vertex Pharmaceuticals by 1.5% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,364 shares of the pharmaceutical company's stock worth $988,000 after buying an additional 35 shares during the last quarter. Finally, GM Advisory Group LLC acquired a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $224,000. Institutional investors own 90.96% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on VRTX. Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a "sell" rating in a research note on Wednesday, November 6th. Guggenheim lifted their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Scotiabank increased their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 5th. Truist Financial restated a "buy" rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $499.12.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $10.65 during mid-day trading on Thursday, reaching $483.96. The company's stock had a trading volume of 1,231,531 shares, compared to its average volume of 1,173,140. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The stock has a market cap of $124.63 billion, a P/E ratio of -248.55 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $519.88. The business has a 50-day simple moving average of $476.13 and a two-hundred day simple moving average of $470.48.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.67 earnings per share. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 27.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

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.