Kestra Investment Management LLC Decreases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kestra Investment Management LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 68.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 731 shares of the pharmaceutical company’s stock after selling 1,584 shares during the quarter. Kestra Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of VRTX. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth $27,000. Dunhill Financial LLC raised its holdings in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter worth $33,000. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VRTX has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $402.00 to $407.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the company from $500.00 to $550.00 in a report on Monday, December 9th. Finally, BMO Capital Markets reduced their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $505.57.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares in the company, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $471.76 on Thursday. The firm has a market cap of $121.14 billion, a PE ratio of -214.44, a P/E/G ratio of 2.02 and a beta of 0.41. The stock has a 50-day moving average price of $435.32 and a 200-day moving average price of $460.52. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.58 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.