Cumberland Partners Ltd Sells 579 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Cumberland Partners Ltd has reduced its stake in Vertex Pharmaceuticals by 1.2%, now holding 46,747 shares worth approximately $22.66 million.
• Recent analyst ratings show a mix of opinions on Vertex Pharmaceuticals, with a consensus rating of "Moderate Buy" and a price target average of $512.30.
• The company reported $4.06 EPS for the latest quarter, missing estimates and demonstrating a 2.6% year-over-year revenue increase despite facing a negative net margin.

Cumberland Partners Ltd trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,747 shares of the pharmaceutical company's stock after selling 579 shares during the period. Vertex Pharmaceuticals accounts for 1.7% of Cumberland Partners Ltd's portfolio, making the stock its 20th largest position. Cumberland Partners Ltd's holdings in Vertex Pharmaceuticals were worth $22,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in VRTX. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $31,000. SJS Investment Consulting Inc. boosted its stake in Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Vertex Pharmaceuticals in the first quarter worth $46,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $40,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $44,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. HC Wainwright restated a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Leerink Partners reaffirmed a "market perform" rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Scotiabank lowered their target price on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $512.30.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $462.13 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The stock has a market capitalization of $118.67 billion, a price-to-earnings ratio of -117.89 and a beta of 0.44. The firm's 50 day simple moving average is $455.62 and its 200-day simple moving average is $466.46. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.76 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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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