Mizuho Securities USA LLC Sells 3,847 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Mizuho Securities USA LLC reduced its stake in Vertex Pharmaceuticals by 15.8%, selling 3,847 shares and retaining a total of 20,561 shares valued at approximately $9.97 million.
• Director Bruce I. Sachs acquired 5,000 shares of Vertex, increasing his ownership by 12.5%, bringing his total to 45,000 shares worth about $17.54 million.
• Vertex Pharmaceuticals reported a strong quarterly performance with earnings per share of $4.52, exceeding analyst expectations, and a revenue increase of 11.3% compared to the previous year.

Mizuho Securities USA LLC lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 15.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,561 shares of the pharmaceutical company's stock after selling 3,847 shares during the quarter. Mizuho Securities USA LLC's holdings in Vertex Pharmaceuticals were worth $9,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors raised its position in shares of Vertex Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares during the period. Vanguard Group Inc. increased its position in Vertex Pharmaceuticals by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after acquiring an additional 232,873 shares during the period. Capital Research Global Investors increased its position in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock valued at $4,199,713,000 after acquiring an additional 1,426,746 shares during the period. Jennison Associates LLC increased its position in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after acquiring an additional 744,680 shares during the period. Finally, Janus Henderson Group PLC increased its position in Vertex Pharmaceuticals by 12.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,833,889 shares of the pharmaceutical company's stock valued at $1,141,277,000 after acquiring an additional 317,058 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity

In other news, Director Bruce I. Sachs acquired 5,000 shares of the business's 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 acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX traded up $13.31 during trading hours on Tuesday, hitting $387.77. 2,030,689 shares of the company were exchanged, compared to its average volume of 1,650,230. The company has a market capitalization of $99.42 billion, a PE ratio of 27.72 and a beta of 0.44. The firm has a fifty day simple moving average of $449.35 and a 200-day simple moving average of $465.50. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The business had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter last year, the firm posted ($12.83) earnings per share. Vertex Pharmaceuticals's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the topic of several analyst reports. HC Wainwright lowered their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Royal Bank Of Canada lowered their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Stifel Nicolaus lowered their target price on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price on the stock in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Vertex Pharmaceuticals Company 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.