C WorldWide Group Holding A S Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

C WorldWide Group Holding A S decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,057 shares of the pharmaceutical company’s stock after selling 13,500 shares during the period. C WorldWide Group Holding A S’s holdings in Vertex Pharmaceuticals were worth $26,208,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in VRTX. Brighton Jones LLC raised its holdings in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Vertex Pharmaceuticals by 46.6% in the fourth quarter. Proficio Capital Partners LLC now owns 978 shares of the pharmaceutical company’s stock worth $394,000 after buying an additional 311 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter valued at $5,848,000. Evoke Wealth LLC raised its stake in Vertex Pharmaceuticals by 8.4% during the 4th quarter. Evoke Wealth LLC now owns 1,071 shares of the pharmaceutical company’s stock valued at $431,000 after purchasing an additional 83 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $497,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.4%

Shares of NASDAQ VRTX traded up $1.74 during trading on Friday, reaching $465.01. The stock had a trading volume of 181,080 shares, compared to its average volume of 1,535,952. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. 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 moving average price is $448.80 and its 200-day moving average price is $462.07. The company has a market cap of $119.41 billion, a P/E ratio of -118.49 and a beta of 0.41.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VRTX shares. JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an “overweight” rating in a research note on Monday. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Erste Group Bank cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Leerink Partnrs downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley reduced their price objective on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating for the company in a research report on Friday, June 20th. Fourteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $511.71.

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.