New York Life Investment Management LLC Sells 7,342 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

New York Life Investment Management LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,409 shares of the pharmaceutical company’s stock after selling 7,342 shares during the period. New York Life Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $16,442,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in VRTX. OFI Invest Asset Management bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Arlington Trust Co LLC increased its position in shares of Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $30,000. Baystate Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals by 49.0% in the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 25 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth about $34,000. Institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now directly owns 55,804 shares in the company, valued at $23,755,762.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Stuart A. Arbuckle sold 4,295 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the transaction, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at $31,819,732.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the transaction, the executive vice president now directly owns 55,804 shares in the company, valued at $23,755,762.80. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock worth $5,203,249 over the last three months. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on VRTX. Oppenheimer reiterated an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Wolfe Research began coverage on Vertex Pharmaceuticals in a report on Thursday, February 15th. They set an “outperform” rating and a $515.00 target price for the company. JPMorgan Chase & Co. increased their target price on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price for the company in a report on Thursday, April 11th. Finally, HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $429.45.

Vertex Pharmaceuticals Trading Up 2.4 %

Shares of VRTX stock opened at $402.14 on Thursday. The firm has a 50 day moving average price of $410.17 and a two-hundred day moving average price of $399.54. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $103.94 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 1.85 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 12-month low of $320.01 and a 12-month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.85 by $0.35. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. During the same period last year, the business posted $3.33 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current year.

About Vertex Pharmaceuticals

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.