Thrivent Financial for Lutherans Sells 1,583 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Thrivent Financial for Lutherans cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,687 shares of the pharmaceutical company’s stock after selling 1,583 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Vertex Pharmaceuticals were worth $34,767,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of VRTX. Eagle Bay Advisors LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $29,000. Colonial Trust Co SC grew its stake in Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. Ares Financial Consulting LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $33,000. Archer Investment Corp grew its stake in Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 35 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Vertex Pharmaceuticals by 54.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 77 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 4,910 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the transaction, the executive vice president owned 17,559 shares in the company, valued at $8,562,646.35. This represents a 21.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan Biller sold 945 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $459,600.75. Following the transaction, the executive vice president owned 13,659 shares in the company, valued at approximately $6,643,054.65. The trade was a 6.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 79,802 shares of company stock worth $37,402,568. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein decreased their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Evercore upped their price target on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Canaccord Genuity Group decreased their price target on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research note on Tuesday, May 5th. Finally, UBS Group upped their price target on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $555.17.

Vertex Pharmaceuticals Stock Down 3.0%

Shares of NASDAQ:VRTX opened at $436.95 on Friday. The company’s 50 day moving average price is $445.56 and its two-hundred day moving average price is $450.40. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The firm has a market cap of $110.90 billion, a PE ratio of 25.92, a PEG ratio of 1.87 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the business posted $4.06 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.