Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions cut its Vertex Pharmaceuticals stake by 84.9% in the fourth quarter, selling 106,890 shares and leaving it with 19,070 shares valued at about $8.65 million.
• Vertex reported better-than-expected quarterly earnings of $4.47 per share, beating estimates by $0.23, while revenue of $2.99 billion matched expectations and rose 8.3% year over year.
• Analyst sentiment remains positive, with several firms raising targets and the stock carrying a Moderate Buy consensus rating and average price target of $555.17.

ABN Amro Investment Solutions lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 84.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,070 shares of the pharmaceutical company's stock after selling 106,890 shares during the period. ABN Amro Investment Solutions' holdings in Vertex Pharmaceuticals were worth $8,646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Earned Wealth Advisors LLC grew its holdings in Vertex Pharmaceuticals by 3.3% during the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company's stock worth $295,000 after acquiring an additional 21 shares in the last quarter. Confluence Wealth Services Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 4.0% in the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company's stock valued at $247,000 after buying an additional 21 shares in the last quarter. Childress Capital Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 3.1% in the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company's stock valued at $331,000 after buying an additional 22 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Vertex Pharmaceuticals by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company's stock valued at $2,279,000 after buying an additional 24 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 28.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company's stock valued at $52,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $433.54 on Friday. The company has a market cap of $110.03 billion, a P/E ratio of 25.71, a PEG ratio of 1.85 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The firm has a fifty day moving average of $442.71 and a two-hundred day moving average of $450.96.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on VRTX shares. Maxim Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 target price for the company in a report on Wednesday, March 18th. Citigroup upped their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a "buy" rating in a report on Tuesday, March 10th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada increased their price target on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $555.17.

Insider Activity at Vertex Pharmaceuticals

In other news, 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 owned 26,088 shares in the company, valued at $11,739,600. This trade represents a 21.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 4,910 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the completion of the transaction, the executive vice president owned 17,559 shares of the company's stock, valued at $8,562,646.35. This represents a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,189 shares of company stock worth $9,923,036 in the last 90 days. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Profile

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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