TD Private Client Wealth LLC Sells 7,470 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

TD Private Client Wealth LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 54.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,217 shares of the pharmaceutical company’s stock after selling 7,470 shares during the period. TD Private Client Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $2,504,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Parnassus Investments LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $731,283,000. Edgewood Management LLC lifted its position in shares of Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after purchasing an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at $435,899,000. Wellington Management Group LLP increased its position in shares of Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Vertex Pharmaceuticals by 169.4% during 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 purchasing an additional 528,029 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRTX. Barclays increased their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. StockNews.com upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the company from $500.00 to $550.00 in a report on Monday, December 9th. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Stock Down 1.4 %

VRTX stock opened at $503.20 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The business’s 50-day moving average is $467.89 and its two-hundred day moving average is $462.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The company has a market cap of $129.22 billion, a price-to-earnings ratio of -228.73, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity

In related news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 in the last three months. Company insiders own 0.20% of the company’s stock.

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.