Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Lowered by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,000 shares of the pharmaceutical company’s stock after selling 1,000 shares during the period. Vertex Pharmaceuticals comprises about 1.2% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 28th biggest holding. Sivik Global Healthcare LLC’s holdings in Vertex Pharmaceuticals were worth $4,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $25,000. Sandy Spring Bank boosted its stake in shares of Vertex Pharmaceuticals by 1,014.3% during the 1st quarter. Sandy Spring Bank now owns 78 shares of the pharmaceutical company’s stock valued at $25,000 after buying an additional 71 shares during the period. Marquette Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $27,000. Quent Capital LLC increased its stake in shares of Vertex Pharmaceuticals by 91.1% in the second quarter. Quent Capital LLC now owns 86 shares of the pharmaceutical company’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Vertex Pharmaceuticals during the second quarter valued at $30,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 1.4 %

Shares of Vertex Pharmaceuticals stock opened at $373.65 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $282.21 and a 1 year high of $387.42. The company’s fifty day simple moving average is $359.06 and its 200-day simple moving average is $349.95. The company has a market cap of $96.28 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 2.55 and a beta of 0.45. The company has a current ratio of 4.08, a quick ratio of 3.96 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 6th. The pharmaceutical company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.53 by $0.55. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a net margin of 35.94% and a return on equity of 22.79%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $3.62 EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 13.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VRTX shares. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 21st. HC Wainwright lifted their target price on shares of Vertex Pharmaceuticals from $380.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $359.00 to $364.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Bank of America lifted their price objective on shares of Vertex Pharmaceuticals from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Royal Bank of Canada lowered their target price on shares of Vertex Pharmaceuticals from $350.00 to $347.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 7th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $376.13.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $355.00, for a total value of $887,500.00. Following the completion of the sale, the executive vice president now owns 48,637 shares in the company, valued at approximately $17,266,135. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Carmen Bozic sold 5,651 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $351.00, for a total value of $1,983,501.00. Following the completion of the transaction, the chief marketing officer now owns 51,905 shares of the company’s stock, valued at $18,218,655. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $355.00, for a total transaction of $887,500.00. Following the transaction, the executive vice president now owns 48,637 shares of the company’s stock, valued at approximately $17,266,135. The disclosure for this sale can be found here. Insiders have sold 50,411 shares of company stock worth $18,511,525 over the last three months. Company insiders own 0.40% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.