Northwest & Ethical Investments L.P. Sells 13,263 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Vertex Pharmaceuticals by 47.7%, selling 13,263 shares, leaving it with 14,559 shares valued at approximately $7,058,000.
• In the latest earnings report, Vertex Pharmaceuticals posted an EPS of $4.52, surpassing estimates, and reported year-over-year revenue growth of 11.3% to $2.94 billion.
• A director at Vertex Pharmaceuticals, Bruce I. Sachs, increased his holdings by 12.5% after purchasing 5,000 shares at an average price of $389.68 per share.

Northwest & Ethical Investments L.P. decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 47.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,559 shares of the pharmaceutical company's stock after selling 13,263 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Vertex Pharmaceuticals were worth $7,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its stake in shares of Vertex Pharmaceuticals by 3.1% during the first quarter. Steward Partners Investment Advisory LLC now owns 41,033 shares of the pharmaceutical company's stock valued at $19,894,000 after buying an additional 1,225 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of Vertex Pharmaceuticals by 8.2% during the first quarter. Raymond James Financial Inc. now owns 510,542 shares of the pharmaceutical company's stock valued at $247,521,000 after buying an additional 38,636 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its stake in shares of Vertex Pharmaceuticals by 68.2% during the first quarter. Alliance Wealth Advisors LLC UT now owns 1,573 shares of the pharmaceutical company's stock valued at $763,000 after buying an additional 638 shares during the last quarter. Forvis Mazars Wealth Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $702,000. Finally, Wealthedge Investment Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 21.6% in the first quarter. Wealthedge Investment Advisors LLC now owns 2,701 shares of the pharmaceutical company's stock valued at $1,309,000 after purchasing an additional 480 shares during the period. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.6%

Shares of VRTX opened at $392.79 on Monday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The stock has a fifty day moving average price of $444.95 and a 200-day moving average price of $464.12. The firm has a market cap of $100.71 billion, a PE ratio of 28.08 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating 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 firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business posted ($12.83) EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRTX. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a 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 price target for the company in a report on Wednesday, August 6th. Finally, Canaccord Genuity Group lowered their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $497.10.

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.

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