Gulf International Bank UK Ltd Sells 4,524 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Vertex Pharmaceuticals by 23.3%, selling 4,524 shares and now holds 14,908 shares valued at approximately $7.2 million.
• Insider activity was noted as Director Bruce I. Sachs purchased 5,000 shares of Vertex at an average price of $389.68, increasing his ownership by 12.50%.
• Vertex Pharmaceuticals reported $4.52 EPS for the last quarter, surpassing analysts' expectations and indicated a revenue growth of 11.3% compared to the previous year.

Gulf International Bank UK Ltd cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 23.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,908 shares of the pharmaceutical company's stock after selling 4,524 shares during the quarter. Gulf International Bank UK Ltd's holdings in Vertex Pharmaceuticals were worth $7,227,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of VRTX. Clal Insurance Enterprises Holdings Ltd raised its position in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $31,000. Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $40,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $44,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after acquiring an additional 30 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director directly owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $387.77 on Wednesday. The firm has a market cap of $99.42 billion, a PE ratio of 27.72 and a beta of 0.44. The stock's fifty day moving average price is $448.18 and its two-hundred day moving average price is $464.96. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88.

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. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company posted ($12.83) EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VRTX shares. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Morgan Stanley set a $439.00 target price on Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald decreased their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Finally, Scotiabank decreased their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

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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