Wellington Management Group LLP Sells 461,336 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Wellington Management Group LLP has reduced its holdings in Vertex Pharmaceuticals by 7.8%, selling 461,336 shares, and now holds approximately 5.45 million shares valued at $2.64 billion.
• Several equities research analysts have adjusted their price targets for Vertex Pharmaceuticals, with the consensus target currently at $497.10 and a general rating of "Moderate Buy."
• Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals at an average price of $389.68 per share, increasing his ownership by 12.50%.

Wellington Management Group LLP reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,454,748 shares of the pharmaceutical company's stock after selling 461,336 shares during the quarter. Wellington Management Group LLP owned about 2.12% of Vertex Pharmaceuticals worth $2,644,571,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VRTX. Clal Insurance Enterprises Holdings Ltd increased its holdings in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $44,000. Finally, SJS Investment Consulting Inc. increased its holdings in Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank decreased their price objective on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. HC Wainwright decreased their price objective on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. BMO Capital Markets set a $530.00 price objective on Vertex Pharmaceuticals and gave the company an "outperform" rating in a report on Tuesday, August 5th. Guggenheim decreased their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Stifel Nicolaus decreased their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $497.10.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $392.79 on Monday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The business's fifty day moving average price is $444.95 and its 200-day moving average price is $464.12. The stock has a market capitalization 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 results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the prior year, the firm earned ($12.83) EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

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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