Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,613 shares of the pharmaceutical company’s stock after selling 34,926 shares during the period. TD Asset Management Inc owned 0.07% of Vertex Pharmaceuticals worth $82,789,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Norges Bank acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $1,440,149,000. Capital International Investors increased its position in Vertex Pharmaceuticals by 77.9% during the third quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock worth $1,836,550,000 after purchasing an additional 2,053,156 shares during the last quarter. Capital Research Global Investors increased its position in Vertex Pharmaceuticals by 2.8% during the third quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock worth $6,482,978,000 after purchasing an additional 444,990 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $166,317,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Vertex Pharmaceuticals by 520.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 381,195 shares of the pharmaceutical company’s stock worth $149,291,000 after purchasing an additional 319,725 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $446.83 on Friday. The firm has a 50 day simple moving average of $437.33 and a 200-day simple moving average of $451.81. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The firm has a market cap of $113.41 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.89 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm posted $4.06 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director owned 4,924 shares in the company, valued at $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the completion of the transaction, the chief marketing officer owned 26,088 shares of the company’s stock, valued at $11,739,600. This represents a 21.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,717 shares of company stock worth $5,309,945 over the last 90 days. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Jefferies Financial Group assumed coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They set a “buy” rating and a $580.00 price target for the company. Canaccord Genuity Group dropped their price target on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a research report on Tuesday, May 5th. Bank of America lifted their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Finally, Stifel Nicolaus lifted their price target on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Twenty-two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $555.91.

Vertex Pharmaceuticals 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.