Everence Capital Management Inc. Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Everence Capital Management Inc. trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 35.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,344 shares of the pharmaceutical company’s stock after selling 2,980 shares during the period. Everence Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $2,174,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VRTX. OFI Invest Asset Management purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at about $25,000. Arlington Trust Co LLC boosted its holdings in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares during the period. Compass Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $29,000. Fortitude Family Office LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Finally, Baystate Wealth Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the sale, the executive vice president now owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the sale, the executive vice president now owns 55,804 shares in the company, valued at $23,755,762.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the sale, the executive vice president now owns 74,364 shares in the company, valued at approximately $31,250,727.36. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock valued at $5,203,249 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $394.17 on Wednesday. The company has a market capitalization of $101.88 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 1.87 and a beta of 0.35. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $415.28 and a 200 day moving average of $396.78. Vertex Pharmaceuticals Incorporated has a twelve month low of $316.43 and a twelve month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.85 by $0.35. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. During the same quarter last year, the firm earned $3.33 earnings per share. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays increased their target price on shares of Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Wells Fargo & Company increased their price target on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Truist Financial increased their price target on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Wolfe Research assumed coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $424.62.

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.