W.G. Shaheen & Associates DBA Whitney & Co Has $20.19 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

W.G. Shaheen & Associates DBA Whitney & Co decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 15.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,406 shares of the pharmaceutical company's stock after selling 7,748 shares during the quarter. Vertex Pharmaceuticals accounts for about 2.2% of W.G. Shaheen & Associates DBA Whitney & Co's investment portfolio, making the stock its 10th largest holding. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Vertex Pharmaceuticals were worth $20,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Capital World Investors boosted its position in Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company's stock worth $10,687,339,000 after acquiring an additional 3,761,414 shares during the period. Capital Research Global Investors boosted its holdings in shares of Vertex Pharmaceuticals by 61.0% during the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company's stock worth $2,401,000,000 after purchasing an additional 2,176,218 shares during the period. Janus Henderson Group PLC increased its stake in Vertex Pharmaceuticals by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company's stock valued at $1,080,296,000 after buying an additional 244,336 shares during the period. Legal & General Group Plc lifted its position in Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company's stock worth $1,135,556,000 after buying an additional 29,104 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Vertex Pharmaceuticals by 1.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 672,098 shares of the pharmaceutical company's stock valued at $312,579,000 after buying an additional 6,716 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

VRTX stock traded down $16.21 during midday trading on Tuesday, reaching $450.80. 1,162,447 shares of the company's stock traded hands, compared to its average volume of 1,179,186. The company has a 50-day simple moving average of $476.31 and a two-hundred day simple moving average of $472.56. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $346.29 and a 1-year high of $519.88. The company has a market cap of $116.09 billion, a price-to-earnings ratio of -234.68 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping 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 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 quarter in the prior year, the business earned $3.67 EPS. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on VRTX shares. Bank of America lowered their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Scotiabank increased their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 5th. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. HC Wainwright reaffirmed a "buy" rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $499.12.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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 $2,217,500. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares of the company's stock, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. 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.