Sumitomo Mitsui Trust Group Inc. Lowers Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 643,987 shares of the pharmaceutical company's stock after selling 15,546 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Vertex Pharmaceuticals worth $312,218,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $31,000. Truvestments Capital LLC raised its stake in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after acquiring an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $40,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $44,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of Vertex Pharmaceuticals by 45.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after acquiring an additional 35 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded down $2.10 during mid-day trading on Friday, hitting $441.30. 3,615,473 shares of the stock were exchanged, compared to its average volume of 1,418,238. The stock's fifty day simple moving average is $454.50 and its two-hundred day simple moving average is $458.76. The stock has a market capitalization of $113.33 billion, a price-to-earnings ratio of -112.58 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.76 EPS. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on VRTX shares. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Leerink Partners reiterated a "market perform" rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Bank of America increased their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Scotiabank reduced their price objective on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Finally, William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $511.62.

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.