AMF Tjanstepension AB Sells 381,782 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

AMF Tjanstepension AB trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 69.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,918 shares of the pharmaceutical company’s stock after selling 381,782 shares during the quarter. AMF Tjanstepension AB’s holdings in Vertex Pharmaceuticals were worth $78,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of VRTX. Capital World Investors increased its stake in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after buying an additional 3,761,414 shares during the period. Capital Research Global Investors lifted its position in Vertex Pharmaceuticals by 61.0% during the 1st 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 boosted its stake in shares of 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 last quarter. Swedbank AB acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $277,317,000. Finally, Vanguard Group Inc. raised its stake in shares of Vertex Pharmaceuticals by 1.8% during the first quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after buying an additional 394,338 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.6 %

Shares of Vertex Pharmaceuticals stock opened at $462.14 on Thursday. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.85 and a 52-week high of $510.64. The stock has a market cap of $119.28 billion, a PE ratio of 29.99 and a beta of 0.40. The firm has a 50-day moving average of $478.32 and a 200-day moving average of $455.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm earned $3.53 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs sold 5,295 shares of the company’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 completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction that occurred 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 owns 40,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this sale can be found here. Insiders have sold a total of 31,767 shares of company stock worth $15,768,284 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Oppenheimer raised their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Canaccord Genuity Group boosted their price objective on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Guggenheim increased their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $431.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, September 19th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $487.23.

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.