Shell Asset Management Co. reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 46.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,684 shares of the pharmaceutical company’s stock after selling 21,769 shares during the period. Shell Asset Management Co.’s holdings in Vertex Pharmaceuticals were worth $3,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 19.0% during the third quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock worth $914,941,000 after purchasing an additional 962,644 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Vertex Pharmaceuticals by 8,061.1% during the third quarter. Point72 Asset Management L.P. now owns 909,230 shares of the pharmaceutical company’s stock worth $138,239,000 after purchasing an additional 898,089 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Vertex Pharmaceuticals by 18.8% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,428,127 shares of the pharmaceutical company’s stock worth $214,019,000 after purchasing an additional 226,097 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Vertex Pharmaceuticals by 7.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,127,092 shares of the pharmaceutical company’s stock worth $318,765,000 after purchasing an additional 149,823 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Vertex Pharmaceuticals by 31.8% during the third quarter. Janus Henderson Group PLC now owns 591,870 shares of the pharmaceutical company’s stock worth $89,988,000 after purchasing an additional 142,895 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages recently issued reports on VRTX. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 21st. Cowen restated a “buy” rating and issued a $200.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, December 11th. Bank of America upgraded shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Friday, January 5th. Deutsche Bank began coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, December 12th. They issued a “buy” rating and a $175.00 price target for the company. Finally, Oppenheimer lifted their price target on shares of Vertex Pharmaceuticals from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. Vertex Pharmaceuticals currently has an average rating of “Buy” and an average price target of $183.96.

In other news, SVP Paul M. Silva sold 1,289 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $152.31, for a total transaction of $196,327.59. Following the completion of the transaction, the senior vice president now owns 17,923 shares of the company’s stock, valued at $2,729,852.13. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Amit Sachdev sold 46,172 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $158.65, for a total transaction of $7,325,187.80. Following the transaction, the executive vice president now directly owns 57,835 shares of the company’s stock, valued at approximately $9,175,522.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,966 shares of company stock valued at $57,081,624. Corporate insiders own 1.80% of the company’s stock.

Vertex Pharmaceuticals Incorporated (VRTX) opened at $173.97 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $88.90 and a 1-year high of $178.25. The stock has a market cap of $44,170.00, a price-to-earnings ratio of 167.28, a PEG ratio of 2.49 and a beta of 1.56. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. Vertex Pharmaceuticals had a net margin of 10.59% and a return on equity of 11.02%. The company had revenue of $651.63 million during the quarter, compared to the consensus estimate of $592.49 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 42.1% compared to the same quarter last year. sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 1.67 EPS for the current year.

Vertex Pharmaceuticals announced that its board has authorized a stock repurchase program on Wednesday, January 31st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the pharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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