HM Payson & Co. Has $3.29 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

HM Payson & Co. trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 63.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,075 shares of the pharmaceutical company’s stock after selling 12,330 shares during the period. HM Payson & Co.’s holdings in Vertex Pharmaceuticals were worth $3,290,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in VRTX. Capital World Investors boosted its stake in 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 in the last quarter. Vanguard Group Inc. increased its position in shares of Vertex Pharmaceuticals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after purchasing an additional 394,338 shares in the last quarter. Capital Research Global Investors lifted its holdings 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 last quarter. Jennison Associates LLC boosted its position in 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 buying an additional 837,461 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Vertex Pharmaceuticals by 10.4% in the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock valued at $1,080,296,000 after acquiring an additional 244,336 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,710 shares of company stock valued at $3,298,206. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Down 0.4 %

Shares of VRTX stock traded down $1.90 during trading hours on Thursday, hitting $473.18. 28,042 shares of the company were exchanged, compared to its average volume of 1,159,628. The company has a market capitalization of $122.13 billion, a PE ratio of -234.03 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The business has a 50 day moving average of $474.81 and a two-hundred day moving average of $463.87. 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 (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm 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 period in the prior year, the business earned $3.53 EPS. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Bank of America decreased their price target on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Guggenheim raised their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price target for the company. Finally, UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $492.50.

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.