Vertex Pharmaceuticals Incorporated $VRTX Holdings Decreased by Tredje AP fonden

Key Points

• Tredje AP fonden cut its Vertex Pharmaceuticals stake by 28.9% in the fourth quarter, selling 53,585 shares and ending with 131,727 shares valued at about $59.7 million.
• Insider selling has also been notable: executives Amit Sachdev and Carmen Bozic sold shares recently, and insiders have sold 79,802 shares worth $37.4 million over the past 90 days.
• Despite the selling, analysts remain bullish on Vertex, with a consensus "Moderate Buy" rating and an average price target of $555.17. The company also reported strong quarterly results, including EPS of $4.47, beating estimates.

Tredje AP fonden reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,727 shares of the pharmaceutical company's stock after selling 53,585 shares during the period. Tredje AP fonden owned approximately 0.05% of Vertex Pharmaceuticals worth $59,720,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in Vertex Pharmaceuticals by 26.0% in the 4th quarter. Larson Financial Group LLC now owns 1,087 shares of the pharmaceutical company's stock worth $493,000 after purchasing an additional 224 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Vertex Pharmaceuticals by 0.7% during the 4th quarter. Handelsbanken Fonder AB now owns 216,331 shares of the pharmaceutical company's stock valued at $98,076,000 after acquiring an additional 1,571 shares in the last quarter. AMF Tjanstepension AB grew its stake in Vertex Pharmaceuticals by 133.7% during the 4th quarter. AMF Tjanstepension AB now owns 145,949 shares of the pharmaceutical company's stock valued at $66,167,000 after acquiring an additional 83,487 shares in the last quarter. Hartford Funds Management Co LLC lifted its holdings in shares of Vertex Pharmaceuticals by 96.9% during the 4th quarter. Hartford Funds Management Co LLC now owns 3,073 shares of the pharmaceutical company's stock valued at $1,394,000 after buying an additional 1,512 shares during the last quarter. Finally, Capstone Capital Management Ltd acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $219,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 58,613 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $468.83, for a total value of $27,479,532.79. Following the transaction, the executive vice president owned 58,934 shares of the company's stock, valued at approximately $27,630,027.22. This represents a 49.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Carmen Bozic sold 6,988 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the transaction, the chief marketing officer directly owned 26,088 shares in the company, valued at $11,739,600. The trade was a 21.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 79,802 shares of company stock valued at $37,402,568 over the last ninety days. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group began coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They set a "buy" rating and a $580.00 price target for the company. Citigroup lifted their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Bank of America boosted their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. UBS Group boosted their price objective on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Finally, HC Wainwright upped their price target on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $555.17.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $436.58 on Tuesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $507.92. The firm has a market cap of $110.80 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.87 and a beta of 0.30. The business's fifty day moving average is $445.08 and its two-hundred day moving average is $450.71.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the firm posted $4.06 earnings per share. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

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