Vestcor Inc Sells 12,624 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Vestcor Inc cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,631 shares of the pharmaceutical company's stock after selling 12,624 shares during the period. Vertex Pharmaceuticals comprises about 0.7% of Vestcor Inc's investment portfolio, making the stock its 27th largest position. Vestcor Inc's holdings in Vertex Pharmaceuticals were worth $21,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Truvestments Capital LLC lifted its stake in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after acquiring an additional 23 shares during the period. Dunhill Financial LLC lifted its stake in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 24 shares during the period. Simon Quick Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 1.1% during the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock valued at $900,000 after acquiring an additional 24 shares during the period. Spinnaker Trust lifted its stake in shares of Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock valued at $497,000 after acquiring an additional 25 shares during the period. Finally, Strategic Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.6% during the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VRTX shares. StockNews.com raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday. Jefferies Financial Group raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and increased their target price for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $506.70.

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Vertex Pharmaceuticals Stock Up 1.4 %

VRTX stock opened at $495.42 on Thursday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a market cap of $127.22 billion, a price-to-earnings ratio of -225.19, a P/E/G ratio of 2.11 and a beta of 0.41. The business has a 50 day moving average price of $453.85 and a two-hundred day moving average price of $461.58. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

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

Insider Activity

In related news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value 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 approximately $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock valued at $2,121,012 over the last three months. Insiders own 0.20% of the company's stock.

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.

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