Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,806 shares of the pharmaceutical company’s stock after selling 15,346 shares during the period. Vertex Pharmaceuticals accounts for approximately 1.4% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its 21st largest position. Hardman Johnston Global Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $28,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division grew its stake in shares of Vertex Pharmaceuticals by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock worth $2,279,000 after purchasing an additional 24 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in Vertex Pharmaceuticals by 28.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock valued at $52,000 after acquiring an additional 25 shares in the last quarter. Hohimer Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 1.2% in the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock valued at $945,000 after acquiring an additional 26 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in Vertex Pharmaceuticals by 1.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock valued at $565,000 after acquiring an additional 26 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in Vertex Pharmaceuticals by 5.5% in the third quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock valued at $196,000 after acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $436.27 on Monday. The stock has a market capitalization of $110.97 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.87 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $510.77. The firm has a 50-day moving average price of $464.16 and a 200 day moving average price of $446.37.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the business earned $3.98 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Maxim Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target for the company in a report on Wednesday, March 18th. Oppenheimer increased their price target on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $577.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $555.00.

Get Our Latest Analysis on Vertex Pharmaceuticals

Insider Activity

In related news, EVP Joy Liu sold 978 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $449.17, for a total transaction of $439,288.26. Following the sale, the executive vice president owned 21,833 shares in the company, valued at approximately $9,806,728.61. This trade represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the sale, the executive vice president owned 17,559 shares in the company, valued at approximately $8,562,646.35. This trade represents a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,431 shares of company stock valued at $37,875,167 in the last 90 days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Profile

(Free Report)

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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