Danske Bank A S Decreases Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Danske Bank A/S trimmed its stake in Vertex by 4.4% in Q4, selling 7,315 shares to hold 157,165 shares worth about $71.25 million (0.06% of the company).
• Company insiders have been net sellers: executives sold a total of 80,431 shares (~$37.9 million) over the past three months, leaving insiders with just 0.20% ownership.
• Financial and analyst backdrop: Vertex reported $5.03 EPS (missed by $0.02) and $3.19B revenue (up 9.5% YoY), the stock has a $108.7B market cap, and analysts have a consensus "Moderate Buy" with an average target of $554.83 (several firms raising targets up to ~$600).

Danske Bank A S trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,165 shares of the pharmaceutical company's stock after selling 7,315 shares during the period. Danske Bank A S owned 0.06% of Vertex Pharmaceuticals worth $71,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Eagle Bay Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $29,000. Colonial Trust Co SC increased its position in shares of Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Ares Financial Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $33,000. Archer Investment Corp increased its position in shares of Vertex Pharmaceuticals by 89.7% during the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock worth $34,000 after purchasing an additional 35 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of Vertex Pharmaceuticals by 54.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 77 shares of the pharmaceutical company's stock worth $35,000 after purchasing an additional 27 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 1.0%

Shares of VRTX stock opened at $427.38 on Friday. The stock has a market capitalization of $108.71 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.84 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $509.00. The stock's 50-day moving average price is $453.82 and its 200 day moving average price is $448.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The business's revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.98 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post 16.82 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Mark E. Bunnage sold 2,021 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $930,529.03. Following the transaction, the executive vice president owned 12,914 shares in the company, valued at $5,945,993.02. The trade was a 13.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Amit Sachdev sold 58,613 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $468.83, for a total value of $27,479,532.79. Following the transaction, the executive vice president owned 58,934 shares in the company, valued at $27,630,027.22. The trade was a 49.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,431 shares of company stock worth $37,875,167 over the last three months. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VRTX shares. UBS Group lifted their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Oppenheimer lifted their target price on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 10th. Royal Bank Of Canada cut their target price on Vertex Pharmaceuticals from $546.00 to $541.00 and set an "outperform" rating on the stock in a research report on Friday, February 13th. Bank of America lifted their target price on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Finally, Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 target price on the stock in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $554.83.

About Vertex Pharmaceuticals

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.

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