Canada Pension Plan Investment Board Trims Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Canada Pension Plan Investment Board decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 337,116 shares of the pharmaceutical company’s stock after selling 49,532 shares during the period. Canada Pension Plan Investment Board owned 0.13% of Vertex Pharmaceuticals worth $158,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. University of Texas Texas AM Investment Managment Co. purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $25,000. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $27,000. ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Finally, Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth $31,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,047 shares of company stock worth $16,843,806. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on VRTX. BMO Capital Markets upped their target price on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Oppenheimer increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Argus boosted their target price on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Finally, Wells Fargo & Company lifted their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $486.36.

Vertex Pharmaceuticals Stock Down 2.7 %

VRTX stock opened at $464.92 on Friday. The company has a market capitalization of $119.97 billion, a P/E ratio of 30.17 and a beta of 0.40. The firm has a 50 day simple moving average of $482.66 and a 200-day simple moving average of $451.87. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.85 and a twelve month high of $510.64.

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

Vertex Pharmaceuticals Company 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.