Keudell Morrison Wealth Management Decreases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Keudell Morrison Wealth Management trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 30.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 646 shares of the pharmaceutical company’s stock after selling 285 shares during the period. Keudell Morrison Wealth Management’s holdings in Vertex Pharmaceuticals were worth $300,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VRTX. Capital World Investors raised its position in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after purchasing an additional 3,761,414 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after buying an additional 2,176,218 shares during the last quarter. Swedbank AB purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth $277,317,000. AMF Tjanstepension AB acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $257,655,000. Finally, Vanguard Group Inc. increased its position in shares of Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after acquiring an additional 394,338 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 0.7 %

Shares of VRTX stock traded down $3.56 during trading hours on Thursday, reaching $490.08. 57,656 shares of the stock were exchanged, compared to its average volume of 1,166,942. The business’s fifty day moving average is $474.81 and its two-hundred day moving average is $466.95. The firm has a market capitalization of $126.49 billion, a P/E ratio of -248.06 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.88% and a negative net margin of 4.52%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the business posted $3.67 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction on 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 in the company, valued at $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday. UBS Group upped their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Canaccord Genuity Group lifted their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday. Finally, TD Cowen increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $495.96.

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.