Aristotle Atlantic Partners LLC Sells 1,413 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Aristotle Atlantic Partners LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.5% in the fourth quarter, Holdings Channel reports. The fund owned 38,391 shares of the pharmaceutical company’s stock after selling 1,413 shares during the quarter. Aristotle Atlantic Partners LLC’s holdings in Vertex Pharmaceuticals were worth $17,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Brighton Jones LLC increased its position in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after acquiring an additional 579 shares during the period. Gamco Investors INC. ET AL acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $228,000. NewEdge Advisors LLC increased its position in Vertex Pharmaceuticals by 9.0% in the 2nd quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after acquiring an additional 986 shares during the period. ICW Investment Advisors LLC increased its position in Vertex Pharmaceuticals by 5.0% in the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock valued at $269,000 after acquiring an additional 29 shares during the period. Finally, Diversify Advisory Services LLC increased its position in Vertex Pharmaceuticals by 26.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after acquiring an additional 1,518 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 1.3%

NASDAQ VRTX opened at $458.99 on Thursday. The company has a fifty day simple moving average of $438.16 and a 200 day simple moving average of $453.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The company has a market cap of $116.49 billion, a P/E ratio of 27.22, a PEG ratio of 1.94 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (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 the consensus estimate of $2.99 billion. During the same quarter last year, the firm posted $4.06 EPS. Vertex Pharmaceuticals’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HC Wainwright upped their price target on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Canaccord Genuity Group decreased 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. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. 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 note on Tuesday, March 10th. Finally, Barclays lifted their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $555.91.

Insider Activity

In other news, EVP Joy Liu sold 1,104 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the transaction, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the transaction, the chief marketing officer owned 26,088 shares in the company, 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 have sold 15,195 shares of company stock worth $6,801,006 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

About Vertex Pharmaceuticals

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.