Dorsey & Whitney Trust CO LLC Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Dorsey & Whitney Trust CO LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,285 shares of the pharmaceutical company’s stock after selling 79 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Vertex Pharmaceuticals were worth $1,071,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Capital World Investors increased its position in Vertex Pharmaceuticals by 17.2% during the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after buying an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Vertex Pharmaceuticals by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after purchasing an additional 394,338 shares during the period. Capital Research Global Investors grew its position in shares of Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after purchasing an additional 2,176,218 shares during the period. Jennison Associates LLC grew its position in shares of Vertex Pharmaceuticals by 21.2% in the first 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. Finally, Norges Bank purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $1,237,877,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.1 %

Shares of VRTX opened at $470.78 on Wednesday. The stock’s 50-day moving average is $483.24 and its two-hundred day moving average is $449.37. The stock has a market cap of $121.49 billion, a PE ratio of 30.55 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64. 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 (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm posted $3.53 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Truist Financial reaffirmed a “buy” rating and issued a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets boosted their price target on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $485.91.

Insider Buying and Selling

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the completion of the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,047 shares of company stock worth $16,843,806. 0.20% of the stock is currently owned by corporate insiders.

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.