Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Intermede Investment Partners Ltd

Intermede Investment Partners Ltd decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,378 shares of the pharmaceutical company’s stock after selling 6,645 shares during the period. Vertex Pharmaceuticals accounts for 2.5% of Intermede Investment Partners Ltd’s investment portfolio, making the stock its 19th largest holding. Intermede Investment Partners Ltd’s holdings in Vertex Pharmaceuticals were worth $60,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Colonial Trust Co SC boosted its holdings in shares of Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 38 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $29,000. IMG Wealth Management Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 50 shares in the last quarter. Ares Financial Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $33,000. Finally, Archer Investment Corp boosted its holdings in shares of Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, CAO Kristen Ambrose sold 223 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $108,456.05. Following the completion of the sale, the chief accounting officer owned 6,981 shares in the company, valued at approximately $3,395,209.35. This trade represents a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Morrow Atkinson III sold 668 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $324,881.80. Following the completion of the sale, the executive vice president owned 18,432 shares of the company’s stock, valued at $8,964,403.20. This trade represents a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,189 shares of company stock worth $9,923,036. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VRTX. Bank of America increased their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Scotiabank increased their price target on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus increased their price target on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Finally, Royal Bank Of Canada increased their price target on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $555.17.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $434.52 on Monday. The stock has a market cap of $110.28 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.86 and a beta of 0.30. The firm has a fifty day moving average price of $441.55 and a 200 day moving average price of $451.02. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the business earned $4.06 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.