Coastline Trust Co Takes $413,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Coastline Trust Co bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,015 shares of the pharmaceutical company’s stock, valued at approximately $413,000.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Vertex Pharmaceuticals by 0.4% during the third quarter. Vanguard Group Inc. now owns 21,983,356 shares of the pharmaceutical company’s stock worth $7,644,492,000 after acquiring an additional 87,397 shares during the period. State Street Corp raised its stake in shares of Vertex Pharmaceuticals by 1.0% in the 2nd quarter. State Street Corp now owns 12,331,593 shares of the pharmaceutical company’s stock valued at $4,339,611,000 after purchasing an additional 124,141 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 0.5% in the first quarter. Geode Capital Management LLC now owns 5,409,257 shares of the pharmaceutical company’s stock valued at $1,700,938,000 after purchasing an additional 26,538 shares in the last quarter. Morgan Stanley boosted its position in shares of Vertex Pharmaceuticals by 3.2% during the third quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock worth $998,050,000 after buying an additional 89,217 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Vertex Pharmaceuticals by 4.9% during the third quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock worth $978,388,000 after buying an additional 131,539 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now directly owns 74,364 shares in the company, valued at $31,250,727.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Ourania Tatsis sold 354 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the sale, the executive vice president now owns 55,804 shares in the company, valued at approximately $23,755,762.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now directly owns 74,364 shares in the company, valued at $31,250,727.36. The disclosure for this sale can be found here. Insiders sold a total of 19,029 shares of company stock worth $7,989,227 in the last three months. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VRTX shares. JPMorgan Chase & Co. boosted their target price on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Royal Bank of Canada increased their target price on shares of Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $440.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Canaccord Genuity Group downgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and increased their price objective for the stock from $332.00 to $379.00 in a research note on Wednesday, January 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $420.48.

Check Out Our Latest Report on VRTX

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $409.42 on Wednesday. The company has a market capitalization of $105.76 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.29 and a beta of 0.35. The stock’s 50 day moving average is $421.74 and its 200-day moving average is $392.87. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $313.47 and a 12 month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $3.85 by $0.35. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. During the same period in the prior year, the firm posted $3.33 EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current year.

Vertex Pharmaceuticals Company Profile

(Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

See Also

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

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