Montchanin Asset Management LLC Decreases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Montchanin Asset Management LLC reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,802 shares of the pharmaceutical company's stock after selling 1,620 shares during the quarter. Vertex Pharmaceuticals makes up 3.8% of Montchanin Asset Management LLC's portfolio, making the stock its 8th biggest position. Montchanin Asset Management LLC's holdings in Vertex Pharmaceuticals were worth $3,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Truvestments Capital LLC grew its holdings in Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after acquiring an additional 23 shares during the last quarter. Spinnaker Trust lifted its position in shares of Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock worth $497,000 after purchasing an additional 25 shares in the last quarter. Strategic Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.6% during the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after acquiring an additional 25 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock valued at $1,451,000 after purchasing an additional 25 shares during the last quarter. Finally, Goelzer Investment Management Inc. lifted its stake in shares of Vertex Pharmaceuticals by 1.5% in the 4th quarter. Goelzer Investment Management Inc. now owns 1,915 shares of the pharmaceutical company's stock valued at $771,000 after purchasing an additional 29 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 530 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the transaction, the executive vice president now owns 58,539 shares in the company, valued at approximately $27,825,928.26. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,813 shares of company stock worth $1,889,514 over the last quarter. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 2.3%

NASDAQ VRTX traded up $10.00 on Tuesday, hitting $446.00. 2,048,282 shares of the company were exchanged, compared to its average volume of 1,419,098. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company has a market cap of $114.53 billion, a PE ratio of -202.73, a PEG ratio of 2.11 and a beta of 0.51. The stock has a fifty day moving average of $474.73 and a 200-day moving average of $462.07.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.76 EPS. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of recent analyst reports. Leerink Partners reaffirmed a "market perform" rating and issued a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Scotiabank reduced their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. Bank of America upped their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Finally, Royal Bank of Canada lifted their target price on Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. Thirteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $515.04.

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.