Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Bamco Inc. NY

Bamco Inc. NY trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 42.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,200 shares of the pharmaceutical company’s stock after selling 3,800 shares during the quarter. Bamco Inc. NY’s holdings in Vertex Pharmaceuticals were worth $2,037,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRTX. Brighton Jones LLC increased its holdings in shares of Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after buying an additional 579 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in Vertex Pharmaceuticals by 14.0% in the second quarter. Meridian Wealth Management LLC now owns 707 shares of the pharmaceutical company’s stock valued at $315,000 after acquiring an additional 87 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Vertex Pharmaceuticals by 101.1% in the second quarter. Intech Investment Management LLC now owns 17,488 shares of the pharmaceutical company’s stock valued at $7,786,000 after acquiring an additional 8,791 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Vertex Pharmaceuticals by 1.6% during the second quarter. Avantax Advisory Services Inc. now owns 12,873 shares of the pharmaceutical company’s stock valued at $5,731,000 after acquiring an additional 199 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in Vertex Pharmaceuticals by 9.6% during the second quarter. Rockefeller Capital Management L.P. now owns 99,700 shares of the pharmaceutical company’s stock valued at $44,387,000 after acquiring an additional 8,736 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Mark E. Bunnage sold 2,021 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total transaction of $930,529.03. Following the transaction, the executive vice president owned 12,914 shares of the company’s stock, valued at approximately $5,945,993.02. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 9,532 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $461.00, for a total value of $4,394,252.00. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,391,225. This trade represents a 20.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 91,156 shares of company stock valued at $42,845,497. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.7%

VRTX stock opened at $466.10 on Tuesday. The stock’s 50 day moving average is $470.37 and its two-hundred day moving average is $438.98. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $517.20. The company has a market capitalization of $118.40 billion, a PE ratio of 30.40, a P/E/G ratio of 2.00 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.02). The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.98 earnings per share. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on VRTX. Bank of America raised their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. UBS Group boosted their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Canaccord Genuity Group increased their target price on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a “hold” rating in a research report on Tuesday, February 17th. Barclays raised their price target on shares of Vertex Pharmaceuticals from $606.00 to $607.00 and gave the company an “overweight” rating in a report on Tuesday, February 17th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $577.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Twenty-three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $553.36.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.