Hedeker Wealth LLC Decreases Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Hedeker Wealth LLC cut its stake in Vertex by 39.1% in Q4, selling 2,996 shares and retaining 4,665 shares valued at about $2.12 million.
• Vertex reported Q4 EPS of $5.03 (missing estimates by $0.02) with revenue up 9.5% to $3.19B; the company has a market cap near $111 billion and a consensus analyst rating of Moderate Buy with a $555 price target.
• Insiders have sold 80,431 shares worth roughly $37.9 million over the past 90 days, while institutional investors own about 90.96% of the company and corporate insiders hold just 0.20%.

Hedeker Wealth LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 39.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,665 shares of the pharmaceutical company's stock after selling 2,996 shares during the quarter. Hedeker Wealth LLC's holdings in Vertex Pharmaceuticals were worth $2,115,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Choreo LLC increased its holdings in Vertex Pharmaceuticals by 19.7% in the 4th quarter. Choreo LLC now owns 7,008 shares of the pharmaceutical company's stock worth $3,180,000 after acquiring an additional 1,154 shares during the last quarter. Altfest L J & Co. Inc. increased its holdings in Vertex Pharmaceuticals by 3.8% in the 4th quarter. Altfest L J & Co. Inc. now owns 1,824 shares of the pharmaceutical company's stock worth $827,000 after acquiring an additional 67 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Vertex Pharmaceuticals by 3.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 394,200 shares of the pharmaceutical company's stock valued at $178,715,000 after buying an additional 14,829 shares in the last quarter. Howard Capital Management Inc. grew its holdings in Vertex Pharmaceuticals by 4.0% during the 4th quarter. Howard Capital Management Inc. now owns 9,274 shares of the pharmaceutical company's stock valued at $4,204,000 after buying an additional 360 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Vertex Pharmaceuticals by 20.8% during the 4th quarter. Ritholtz Wealth Management now owns 4,412 shares of the pharmaceutical company's stock valued at $2,000,000 after buying an additional 759 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $436.27 on Friday. The business has a 50 day moving average of $464.16 and a 200 day moving average of $445.88. The company has a market capitalization of $110.97 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.87 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $510.77.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts' consensus estimates of $5.05 by ($0.02). The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 EPS. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on VRTX shares. Scotiabank lifted their target price on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Weiss Ratings raised Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 4th. Stifel Nicolaus lifted their target price on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a "hold" rating in a report on Friday, February 13th. UBS Group lifted their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a "buy" rating in a report on Monday, January 26th. Finally, Barclays lifted their target price on Vertex Pharmaceuticals from $606.00 to $607.00 and gave the company an "overweight" rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $555.00.

Insider Buying and Selling

In related news, EVP Duncan Mckechnie sold 4,910 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total value of $2,394,361.50. Following the completion of the sale, the executive vice president owned 17,559 shares in the company, valued at $8,562,646.35. The trade was a 21.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Biller sold 945 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $459,600.75. Following the completion of the transaction, the executive vice president directly owned 13,659 shares in the company, valued at $6,643,054.65. This trade represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,431 shares of company stock worth $37,875,167 over the last ninety days. Corporate insiders own 0.20% of the company's stock.

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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