Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,613 shares of the pharmaceutical company’s stock after selling 34,926 shares during the quarter. TD Asset Management Inc’s holdings in Vertex Pharmaceuticals were worth $82,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Colonial Trust Co SC increased its holdings in shares of Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $29,000. IMG Wealth Management Inc. increased its holdings in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 50 shares during the period. Ares Financial Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $33,000. Finally, Archer Investment Corp increased its holdings in shares of Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Joy Liu sold 1,104 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the transaction, the executive vice president directly owned 20,729 shares of the company’s stock, valued at $8,810,239.58. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the transaction, the chief marketing officer directly owned 26,088 shares in the company, valued at approximately $11,739,600. This trade represents a 21.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,717 shares of company stock valued at $5,309,945 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $446.83 on Friday. The stock has a market capitalization of $113.41 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.89 and a beta of 0.30. The company’s fifty day moving average is $437.33 and its two-hundred day moving average is $451.81. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.06 EPS. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRTX. Maxim Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price on the stock in a report on Wednesday, March 18th. Jefferies Financial Group began coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $590.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Bank of America lifted their target price on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $555.91.

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.