Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,250 shares of the pharmaceutical company’s stock after selling 284 shares during the period. Hartford Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $7,558,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $29,000. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $27,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals in the second quarter worth $31,000. Finally, Founders Capital Management grew its position in shares of Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Down 0.7 %

Shares of VRTX stock traded down $3.55 on Wednesday, reaching $471.36. 132,544 shares of the stock were exchanged, compared to its average volume of 1,169,616. The stock has a 50 day moving average price of $475.63 and a 200 day moving average price of $461.23. The stock has a market cap of $121.64 billion, a PE ratio of 30.82 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.53 earnings per share. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,005 shares of company stock worth $5,988,066 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Guggenheim increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Oppenheimer increased their price objective on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Redburn Atlantic began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 target price on the stock. Finally, Royal Bank of Canada lowered their price target on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $492.92.

Vertex Pharmaceuticals Company 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.