Segment Wealth Management LLC Sells 34 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Segment Wealth Management LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,681 shares of the pharmaceutical company’s stock after selling 34 shares during the quarter. Segment Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,288,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Edgewood Management LLC raised its holdings in Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares during the last quarter. Jennison Associates LLC increased its position in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after buying an additional 851,054 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after acquiring an additional 704,421 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after acquiring an additional 528,029 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Vertex Pharmaceuticals by 74,015.5% in the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after purchasing an additional 324,188 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Up 1.2 %

Shares of VRTX opened at $422.00 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company’s fifty day moving average price is $440.94 and its 200-day moving average price is $466.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the company earned $3.67 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial reduced their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. reduced their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Scotiabank raised their price target on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $490.38.

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.