Welch & Forbes LLC Sells 1,646 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Welch & Forbes LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 174,868 shares of the pharmaceutical company’s stock after selling 1,646 shares during the quarter. Welch & Forbes LLC’s holdings in Vertex Pharmaceuticals were worth $38,288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Pictet Asset Management Ltd. lifted its position in shares of Vertex Pharmaceuticals by 7.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,136,626 shares of the pharmaceutical company’s stock worth $208,434,000 after purchasing an additional 82,061 shares during the period. Captrust Financial Advisors lifted its position in shares of Vertex Pharmaceuticals by 204.1% in the 2nd quarter. Captrust Financial Advisors now owns 222 shares of the pharmaceutical company’s stock worth $41,000 after purchasing an additional 149 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $141,000. HighTower Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 21.1% in the 2nd quarter. HighTower Advisors LLC now owns 6,702 shares of the pharmaceutical company’s stock worth $1,231,000 after purchasing an additional 1,170 shares during the period. Finally, US Bancorp DE lifted its position in shares of Vertex Pharmaceuticals by 3.5% during the 2nd quarter. US Bancorp DE now owns 9,306 shares of the pharmaceutical company’s stock valued at $1,706,000 after acquiring an additional 319 shares during the period. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on VRTX. Piper Jaffray Companies boosted their target price on shares of Vertex Pharmaceuticals from $247.00 to $284.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Guggenheim upgraded shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $252.00 target price on the stock in a research report on Tuesday, November 19th. Citigroup boosted their target price on shares of Vertex Pharmaceuticals from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Cowen reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 19th. Finally, BMO Capital Markets boosted their target price on shares of Vertex Pharmaceuticals from to in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $228.54.

Shares of NASDAQ VRTX traded down $1.66 during trading on Friday, hitting $233.84. The stock had a trading volume of 15,608 shares, compared to its average volume of 1,355,173. Vertex Pharmaceuticals Incorporated has a 12 month low of $163.68 and a 12 month high of $235.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.44 and a quick ratio of 3.32. The company has a market capitalization of $60.56 billion, a PE ratio of 82.63, a PEG ratio of 1.33 and a beta of 1.47. The firm has a fifty day moving average of $222.27 and a two-hundred day moving average of $192.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.36. Vertex Pharmaceuticals had a net margin of 59.24% and a return on equity of 20.33%. The firm had revenue of $949.83 million during the quarter, compared to analyst estimates of $942.90 million. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue was up 21.1% compared to the same quarter last year. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 3.72 earnings per share for the current fiscal year.

In related news, EVP Michael Parini sold 2,125 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $226.78, for a total transaction of $481,907.50. Following the completion of the transaction, the executive vice president now owns 37,128 shares in the company, valued at $8,419,887.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Amit Sachdev sold 3,883 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $190.27, for a total transaction of $738,818.41. Following the transaction, the executive vice president now owns 37,299 shares of the company’s stock, valued at approximately $7,096,880.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 352,148 shares of company stock valued at $71,313,185. Company insiders own 0.70% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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