Cutter & CO Brokerage Inc. Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cutter & CO Brokerage Inc. trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,792 shares of the pharmaceutical company’s stock after selling 209 shares during the period. Vertex Pharmaceuticals makes up 1.3% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 15th biggest position. Cutter & CO Brokerage Inc.’s holdings in Vertex Pharmaceuticals were worth $4,798,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sherbrooke Park Advisers LLC boosted its stake in Vertex Pharmaceuticals by 65.3% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 2,645 shares of the pharmaceutical company’s stock valued at $920,000 after buying an additional 1,045 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Vertex Pharmaceuticals by 6.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 432,937 shares of the pharmaceutical company’s stock valued at $150,550,000 after purchasing an additional 26,523 shares during the last quarter. Telos Capital Management Inc. increased its stake in shares of Vertex Pharmaceuticals by 1.6% during the fourth quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock worth $6,133,000 after purchasing an additional 237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Vertex Pharmaceuticals by 1.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 427,001 shares of the pharmaceutical company’s stock worth $148,485,000 after acquiring an additional 5,514 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $816,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 1.2 %

VRTX stock traded up $4.99 during midday trading on Tuesday, hitting $404.91. The stock had a trading volume of 1,070,081 shares, compared to its average volume of 1,246,031. The firm has a market cap of $104.65 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 1.86 and a beta of 0.35. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1-year low of $316.43 and a 1-year high of $448.40. The business has a fifty day moving average price of $413.23 and a two-hundred day moving average price of $398.05.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the company posted $3.33 EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VRTX shares. Royal Bank of Canada upped their price target on shares of Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 6th. Maxim Group lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. UBS Group lowered their price objective on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. HC Wainwright boosted their price objective 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. Finally, Robert W. Baird lowered shares of Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective for the company. in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $429.45.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 2,656 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $419.51, for a total transaction of $1,114,218.56. Following the completion of the sale, the chairman now directly owns 27,644 shares of the company’s stock, valued at $11,596,934.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman Jeffrey M. Leiden sold 2,656 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $419.51, for a total value of $1,114,218.56. Following the transaction, the chairman now owns 27,644 shares of the company’s stock, valued at approximately $11,596,934.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 74,364 shares in the company, valued at approximately $31,250,727.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,381 shares of company stock worth $5,203,249. Corporate insiders own 0.20% of the company’s stock.

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.