Deutsche Bank AG Sells 42,719 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Deutsche Bank AG reduced its stake in Vertex Pharmaceuticals by 3.1%, selling 42,719 shares and maintaining ownership of approximately 1.35 million shares valued at about $653 million.
• Vertex Pharmaceuticals reported a net income of $4.52 per share for the most recent quarter, exceeding estimates, with revenue of $2.94 billion representing an 11.3% increase year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Vertex Pharmaceuticals, with a price target average of $497.10, as various firms adjust their ratings and price estimates for the stock.

Deutsche Bank AG decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,346,886 shares of the pharmaceutical company's stock after selling 42,719 shares during the period. Deutsche Bank AG owned 0.52% of Vertex Pharmaceuticals worth $652,997,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after buying an additional 579 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $3,731,000. FIL Ltd raised its holdings in shares of Vertex Pharmaceuticals by 1,226.6% in the 4th quarter. FIL Ltd now owns 93,273 shares of the pharmaceutical company's stock worth $37,561,000 after purchasing an additional 86,242 shares during the period. Azimuth Capital Investment Management LLC lifted its stake in Vertex Pharmaceuticals by 3.3% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 22,141 shares of the pharmaceutical company's stock valued at $8,916,000 after purchasing an additional 697 shares during the last quarter. Finally, DRW Securities LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at $479,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $9.09 during mid-day trading on Friday, hitting $366.54. The stock had a trading volume of 3,679,339 shares, compared to its average volume of 1,989,627. The business has a 50 day moving average price of $450.77 and a two-hundred day moving average price of $465.51. Vertex Pharmaceuticals Incorporated has a 1 year low of $364.66 and a 1 year high of $519.88. The firm has a market cap of $93.98 billion, a P/E ratio of 26.20 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The firm had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($12.83) earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on VRTX shares. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research report on Wednesday. Canaccord Genuity Group cut their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research report on Wednesday. Stifel Nicolaus set a $455.00 target price on shares of Vertex Pharmaceuticals and gave the company a "hold" rating in a report on Tuesday. HC Wainwright reduced their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $497.10.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

About Vertex Pharmaceuticals

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.