Kentucky Retirement Systems Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kentucky Retirement Systems lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 17,736 shares of the pharmaceutical company’s stock after selling 245 shares during the quarter. Kentucky Retirement Systems’ holdings in Vertex Pharmaceuticals were worth $7,142,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Edgewood Management LLC raised its position in shares of Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $435,899,000. Jennison Associates LLC raised its holdings in Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after buying an additional 704,421 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Vertex Pharmaceuticals by 169.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after buying an additional 528,029 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares in the company, valued at $29,438,776.43. This represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

VRTX has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. UBS Group upped their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada raised their price objective on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their target price for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Finally, Oppenheimer downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $505.61.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $480.33 on Friday. The firm’s fifty day moving average is $435.64 and its two-hundred day moving average is $460.65. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.