Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc has decreased its holdings in Vertex Pharmaceuticals by 38.9% during the first quarter, now owning 32,141 shares valued at $15,583,000.
• Several hedge funds, including Quent Capital LLC and Advisor OS LLC, have raised their stakes in Vertex Pharmaceuticals, indicating continued institutional interest.
• Vertex Pharmaceuticals posted $4.06 earnings per share for the last quarter, missing estimates by $0.23, while revenue increased by 2.6% year-over-year despite also coming in under forecast.

Vestcor Inc lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 38.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 32,141 shares of the pharmaceutical company's stock after selling 20,490 shares during the period. Vestcor Inc's holdings in Vertex Pharmaceuticals were worth $15,583,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quent Capital LLC raised its holdings in Vertex Pharmaceuticals by 4.5% in the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after buying an additional 22 shares during the last quarter. Advisor OS LLC boosted its position in shares of Vertex Pharmaceuticals by 4.4% in the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after purchasing an additional 23 shares during the period. Sculati Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 1.0% during the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after acquiring an additional 25 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Vertex Pharmaceuticals by 2.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock valued at $594,000 after acquiring an additional 25 shares during the period. Finally, Strategic Blueprint LLC grew its holdings in Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada set a $420.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Morgan Stanley cut their price target on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Finally, Wolfe Research cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $512.30.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $12.29 during mid-day trading on Thursday, reaching $456.87. 1,479,656 shares of the company's stock were exchanged, compared to its average volume of 1,005,596. The business's fifty day simple moving average is $455.09 and its 200-day simple moving average is $466.12. The stock has a market capitalization of $117.32 billion, a PE ratio of -116.55 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the previous year, the firm posted $4.76 earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.