Johnson Financial Group Inc. Lowers Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Johnson Financial Group Inc. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 71.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,110 shares of the pharmaceutical company's stock after selling 5,283 shares during the quarter. Johnson Financial Group Inc.'s holdings in Vertex Pharmaceuticals were worth $850,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of VRTX. Truvestments Capital LLC increased its position 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 worth $40,000 after purchasing an additional 23 shares during the period. Simon Quick Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 1.1% during the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock worth $900,000 after buying an additional 24 shares during the last quarter. Spinnaker Trust increased its holdings in shares of Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock worth $497,000 after buying an additional 25 shares in the last quarter. Strategic Advisors LLC increased its holdings in Vertex Pharmaceuticals by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock worth $1,807,000 after purchasing an additional 25 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock valued at $1,451,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $0.02 on Friday, reaching $498.84. 814,034 shares of the company's stock were exchanged, compared to its average volume of 1,338,281. The firm has a market cap of $128.24 billion, a price-to-earnings ratio of -226.81, a P/E/G ratio of 2.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a fifty day simple moving average of $491.59 and a 200-day simple moving average of $467.04. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts' consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays raised their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. HC Wainwright reissued a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Wells Fargo & Company downgraded Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective for the company. in a report on Thursday, January 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $514.91.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently 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.