Swedbank AB Reduces Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Swedbank AB decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 456,587 shares of the pharmaceutical company's stock after selling 121,926 shares during the quarter. Swedbank AB owned about 0.18% of Vertex Pharmaceuticals worth $183,868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Orrstown Financial Services Inc. raised its stake in shares of Vertex Pharmaceuticals by 35.5% during the 4th quarter. Orrstown Financial Services Inc. now owns 947 shares of the pharmaceutical company's stock worth $381,000 after purchasing an additional 248 shares during the period. Strategic Blueprint LLC grew its holdings in shares of Vertex Pharmaceuticals by 35.5% during the fourth quarter. Strategic Blueprint LLC now owns 1,473 shares of the pharmaceutical company's stock worth $593,000 after purchasing an additional 386 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 14.2% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 24,588 shares of the pharmaceutical company's stock worth $10,376,000 after purchasing an additional 3,062 shares in the last quarter. R Squared Ltd purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $44,000. Finally, Williams & Novak LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $277,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 0.2 %

NASDAQ VRTX traded up $0.84 on Wednesday, reaching $441.52. 1,025,800 shares of the stock traded hands, compared to its average volume of 1,495,690. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company has a fifty day moving average price of $434.75 and a 200-day moving average price of $463.64. The company has a market cap of $113.70 billion, a price-to-earnings ratio of -221.87, a PEG ratio of 2.20 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.67 EPS. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VRTX shares. HC Wainwright lowered their price objective on Vertex Pharmaceuticals from $600.00 to $535.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Citigroup assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a "buy" rating and a $575.00 target price on the stock. Scotiabank increased their target price on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a "sector perform" rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. dropped their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Finally, Raymond James reissued a "market perform" rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $494.76.

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.