SYSTM Wealth Solutions LLC Sells 1,140 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

SYSTM Wealth Solutions LLC cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 86.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174 shares of the pharmaceutical company’s stock after selling 1,140 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Vertex Pharmaceuticals were worth $82,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. Capital World Investors grew its stake in Vertex Pharmaceuticals by 21.3% in the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after acquiring an additional 3,824,103 shares during the period. Capital Research Global Investors lifted its holdings in shares of Vertex Pharmaceuticals by 61.0% in the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after purchasing an additional 2,176,218 shares in the last quarter. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after purchasing an additional 837,461 shares during the period. Swedbank AB acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $277,317,000. Finally, AMF Tjanstepension AB bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $257,655,000. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VRTX shares. Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $431.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday. Guggenheim increased their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. increased their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $486.36.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $477.90 on Friday. The company has a market capitalization of $123.32 billion, a P/E ratio of 31.01 and a beta of 0.40. The business has a fifty day simple moving average of $483.14 and a two-hundred day simple moving average of $451.58. 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 Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $3.53 EPS. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The disclosure for this sale can be found here. Insiders have sold a total of 34,047 shares of company stock valued at $16,843,806 over the last quarter. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals 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.