USS Investment Management Ltd Sells 2,996 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

USS Investment Management Ltd reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,403 shares of the pharmaceutical company’s stock after selling 2,996 shares during the period. USS Investment Management Ltd’s holdings in Vertex Pharmaceuticals were worth $17,887,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at about $30,000. Sugar Maple Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $35,000. Golden State Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $37,000. Truvestments Capital LLC boosted its stake in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after purchasing an additional 23 shares in the last quarter. Finally, Midwest Capital Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.5%

Shares of Vertex Pharmaceuticals stock opened at $447.18 on Wednesday. The firm has a 50-day simple moving average of $480.76 and a two-hundred day simple moving average of $464.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a market cap of $114.83 billion, a P/E ratio of -203.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the firm earned $4.76 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VRTX shares. Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 6th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a research note on Friday, January 31st. HC Wainwright reaffirmed a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Leerink Partnrs lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $515.04.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the sale, the executive vice president now owns 58,539 shares in the company, valued at $27,825,928.26. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,813 shares of company stock valued at $1,889,514. 0.20% of the stock is owned by company insiders.

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.