TD Asset Management Inc. Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

TD Asset Management Inc. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 469,068 shares of the pharmaceutical company's stock after selling 53,137 shares during the period. TD Asset Management Inc. owned 0.18% of Vertex Pharmaceuticals worth $188,894,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Princeton Capital Management LLC increased its position in shares of Vertex Pharmaceuticals by 0.4% during the fourth quarter. Princeton Capital Management LLC now owns 15,174 shares of the pharmaceutical company's stock worth $6,111,000 after acquiring an additional 64 shares in the last quarter. EFG Asset Management North America Corp. raised its holdings in shares of Vertex Pharmaceuticals by 49.0% in the fourth quarter. EFG Asset Management North America Corp. now owns 12,055 shares of the pharmaceutical company's stock valued at $4,856,000 after purchasing an additional 3,964 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company's stock valued at $9,366,113,000 after purchasing an additional 98,654 shares in the last quarter. Community Bank N.A. grew its position in Vertex Pharmaceuticals by 29.9% in the 4th quarter. Community Bank N.A. now owns 1,260 shares of the pharmaceutical company's stock worth $507,000 after purchasing an additional 290 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $829,000. Institutional investors and hedge funds own 90.96% of the company's stock.

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Vertex Pharmaceuticals Stock Down 2.0 %

NASDAQ:VRTX traded down $9.86 during trading hours on Friday, reaching $492.69. 1,280,587 shares of the company traded hands, compared to its average volume of 1,275,535. 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 50-day moving average price is $476.45 and its two-hundred day moving average price is $463.71. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock has a market capitalization of $126.52 billion, a P/E ratio of -223.95, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate 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%. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upped their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a report on Monday, December 16th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Bank of America dropped their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Scotiabank lifted their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $506.70.

Insider Activity

In other news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction that occurred 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were 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 directly owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock worth $2,121,012 over the last quarter. Insiders own 0.20% of the company's stock.

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.