Putney Financial Group LLC Reduces Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Putney Financial Group LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 915 shares of the pharmaceutical company’s stock after selling 40 shares during the quarter. Putney Financial Group LLC’s holdings in Vertex Pharmaceuticals were worth $444,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $1,374,948,000. GAMMA Investing LLC grew its holdings in Vertex Pharmaceuticals by 60,572.3% in the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company’s stock valued at $1,175,722,000 after buying an additional 2,421,073 shares in the last quarter. Parnassus Investments LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $731,283,000. Capital World Investors grew its holdings in Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock valued at $11,406,667,000 after buying an additional 1,514,993 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock valued at $4,199,713,000 after buying an additional 1,426,746 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on VRTX shares. Bank of America increased their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Morgan Stanley lowered their price target on Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating for the company in a report on Friday. Erste Group Bank cut Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada set a $420.00 price target on Vertex Pharmaceuticals and gave the stock a “sector perform” rating in a report on Tuesday. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $513.14.

Vertex Pharmaceuticals Trading Down 1.7%

VRTX opened at $440.87 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a market cap of $113.22 billion, a P/E ratio of -112.47 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. The business’s 50-day simple moving average is $459.22 and its 200-day simple moving average is $459.55.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the company posted $4.76 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.