Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Cut by Summit Trail Advisors LLC
Summit Trail Advisors LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 69.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,817 shares of the pharmaceutical company’s stock after selling 6,512 shares during the quarter. Summit Trail Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $479,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in VRTX. Fiera Capital Corp grew its holdings in shares of Vertex Pharmaceuticals by 12.7% during the second quarter. Fiera Capital Corp now owns 2,591 shares of the pharmaceutical company’s stock valued at $440,000 after buying an additional 292 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Vertex Pharmaceuticals by 5.0% during the 2nd quarter. Brown Advisory Inc. now owns 6,327 shares of the pharmaceutical company’s stock worth $1,075,000 after purchasing an additional 304 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Vertex Pharmaceuticals by 1.8% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,914 shares of the pharmaceutical company’s stock worth $3,044,000 after purchasing an additional 325 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Vertex Pharmaceuticals by 22.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,816 shares of the pharmaceutical company’s stock worth $309,000 after purchasing an additional 338 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in Vertex Pharmaceuticals by 1.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 32,832 shares of the pharmaceutical company’s stock valued at $5,580,000 after acquiring an additional 348 shares in the last quarter. Institutional investors and hedge funds own 93.45% of the company’s stock.
VRTX has been the subject of a number of recent research reports. Zacks Investment Research cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Jefferies Financial Group increased their price objective on Vertex Pharmaceuticals to $210.00 and gave the company a “buy” rating in a research report on Monday, July 16th. Argus increased their price target on Vertex Pharmaceuticals to $200.00 and gave the company an “average” rating in a research note on Tuesday, August 28th. They noted that the move was a valuation call. BMO Capital Markets raised their price objective on Vertex Pharmaceuticals to $204.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $203.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $196.52.
Shares of VRTX traded down $0.85 on Friday, reaching $179.01. The company’s stock had a trading volume of 817,106 shares, compared to its average volume of 932,258. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 3.55. Vertex Pharmaceuticals Incorporated has a twelve month low of $136.50 and a twelve month high of $186.44. The firm has a market capitalization of $45.58 billion, a PE ratio of 223.76, a P/E/G ratio of 1.82 and a beta of 1.46.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.54. The company had revenue of $752.20 million for the quarter, compared to analyst estimates of $680.86 million. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The firm’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 EPS. analysts expect that Vertex Pharmaceuticals Incorporated will post 2.48 EPS for the current year.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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