STF Management LP Trims Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

STF Management LP trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,701 shares of the pharmaceutical company’s stock after selling 420 shares during the quarter. Vertex Pharmaceuticals comprises approximately 0.8% of STF Management LP’s holdings, making the stock its 28th biggest position. STF Management LP’s holdings in Vertex Pharmaceuticals were worth $1,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Quent Capital LLC increased its holdings in Vertex Pharmaceuticals by 33.0% in the 1st quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company’s stock worth $167,000 after acquiring an additional 99 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Vertex Pharmaceuticals by 4.4% in the 1st quarter. EP Wealth Advisors LLC now owns 4,709 shares of the pharmaceutical company’s stock worth $1,969,000 after acquiring an additional 197 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 33.6% in the 1st quarter. Axxcess Wealth Management LLC now owns 2,228 shares of the pharmaceutical company’s stock worth $931,000 after acquiring an additional 560 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in Vertex Pharmaceuticals by 29.7% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 1,193 shares of the pharmaceutical company’s stock valued at $499,000 after buying an additional 273 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Vertex Pharmaceuticals by 8.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 386,648 shares of the pharmaceutical company’s stock valued at $161,623,000 after buying an additional 28,747 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 27.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,445 shares of company stock valued at $2,218,394 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Scotiabank increased their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley increased their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $499.12.

Vertex Pharmaceuticals Price Performance

VRTX opened at $449.32 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The firm has a market capitalization of $115.71 billion, a PE ratio of -225.79 and a beta of 0.39. The business’s 50-day moving average is $474.80 and its two-hundred day moving average is $472.58. Vertex Pharmaceuticals Incorporated has a 1 year low of $346.29 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $3.67 earnings per share. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

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.