Stonegate Investment Group LLC Lowers Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Stonegate Investment Group LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,356 shares of the pharmaceutical company’s stock after selling 153 shares during the quarter. Stonegate Investment Group LLC’s holdings in Vertex Pharmaceuticals were worth $3,082,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors raised its holdings in Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares during the period. Vanguard Group Inc. increased its position in shares of Vertex Pharmaceuticals by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock valued at $9,366,113,000 after buying an additional 98,654 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Vertex Pharmaceuticals by 15.8% during the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock worth $4,199,713,000 after buying an additional 1,426,746 shares during the period. Wellington Management Group LLP lifted its position in shares of Vertex Pharmaceuticals by 23.3% during the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after buying an additional 1,117,214 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Vertex Pharmaceuticals by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock valued at $1,519,302,000 after acquiring an additional 704,575 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $440.87 on Friday. The company’s 50-day moving average is $459.22 and its two-hundred day moving average is $459.55. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The firm has a market capitalization of $113.22 billion, a price-to-earnings ratio of -112.47 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.76 earnings per share. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Bank of America raised their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Leerink Partners reiterated a “market perform” rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Scotiabank reduced their target price on Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $513.14.

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 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.