Kentucky Retirement Systems Trims Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kentucky Retirement Systems cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,736 shares of the pharmaceutical company’s stock after selling 245 shares during the period. Kentucky Retirement Systems’ holdings in Vertex Pharmaceuticals were worth $7,142,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of VRTX. Mutual Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 0.6% in the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares in the last quarter. Outlook Wealth Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock worth $415,000 after buying an additional 24 shares during the period. Dunhill Financial LLC increased its stake in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in Vertex Pharmaceuticals by 1.1% during the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after acquiring an additional 24 shares during the period. Finally, Spinnaker Trust raised its holdings in Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock valued at $497,000 after acquiring an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $480.33 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm has a 50-day simple moving average of $435.64 and a two-hundred day simple moving average of $460.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results 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 return on equity of 2.02% and a negative net margin of 4.86%. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price objective for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Piper Sandler cut their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, Truist Financial boosted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $505.61.

Insider Activity

In other news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

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.