Kayne Anderson Rudnick Investment Management LLC Trims Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,274 shares of the pharmaceutical company's stock after selling 827 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $4,943,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 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 valued at $40,000 after buying an additional 23 shares in the last quarter. Simon Quick Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock valued at $900,000 after buying an additional 24 shares in the last quarter. Spinnaker Trust increased its position in shares of Vertex Pharmaceuticals by 2.1% in the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock valued at $497,000 after buying an additional 25 shares in the last quarter. Strategic Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after buying an additional 25 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Vertex Pharmaceuticals by 0.7% in the fourth 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 in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Up 0.3 %

Shares of VRTX stock traded up $1.37 during trading on Friday, reaching $493.84. The company's stock had a trading volume of 1,561,491 shares, compared to its average volume of 1,337,381. 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 company has a market capitalization of $126.81 billion, a price-to-earnings ratio of -224.47, a P/E/G ratio of 2.11 and a beta of 0.50. The stock's 50-day moving average price is $489.78 and its 200 day moving average price is $466.28. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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%. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction that occurred 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 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 legal filing with the SEC, which is available at this link. Also, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares of the company's stock, 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 quarter, insiders sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

VRTX has been the topic of several research reports. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price target on the stock. in a research note on Thursday, January 30th. Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 1st. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. HC Wainwright reissued a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, Barclays lifted their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $514.91.

Vertex Pharmaceuticals Profile

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.