Varma Mutual Pension Insurance Co Sells 3,974 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Varma Mutual Pension Insurance Co decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,426 shares of the pharmaceutical company’s stock after selling 3,974 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Vertex Pharmaceuticals were worth $23,167,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VRTX. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $25,000. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals in the first quarter valued at about $27,000. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $31,000. Finally, Quest Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $33,000. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Guggenheim increased their target price 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. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Argus lifted their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Oppenheimer raised their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $485.91.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Bruce I. Sachs sold 5,295 shares of the firm’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 sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s 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 transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,615 shares of company stock valued at $21,417,310. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $0.57 during mid-day trading on Friday, hitting $468.00. 1,090,355 shares of the stock were exchanged, compared to its average volume of 1,205,450. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The firm’s 50-day simple moving average is $483.31 and its 200 day simple moving average is $448.57. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64. The stock has a market capitalization of $120.77 billion, a price-to-earnings ratio of 30.37 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company posted $3.53 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.85 EPS 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.