Thrivent Financial for Lutherans Sells 1,583 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Thrivent Financial for Lutherans trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,687 shares of the pharmaceutical company’s stock after selling 1,583 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Vertex Pharmaceuticals were worth $34,767,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VRTX. Brighton Jones LLC lifted its position in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after acquiring an additional 579 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $228,000. NewEdge Advisors LLC lifted its position in Vertex Pharmaceuticals by 9.0% in the 2nd quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after acquiring an additional 986 shares in the last quarter. ICW Investment Advisors LLC lifted its position in Vertex Pharmaceuticals by 5.0% in the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock valued at $269,000 after acquiring an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its position in Vertex Pharmaceuticals by 26.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after acquiring an additional 1,518 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on VRTX shares. Jefferies Financial Group started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price objective on the stock. Wall Street Zen raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. HC Wainwright boosted their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Bank of America boosted their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $555.17.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Duncan Mckechnie sold 4,910 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the transaction, the executive vice president directly owned 17,559 shares in the company, valued at $8,562,646.35. The trade was a 21.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Biller sold 945 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $459,600.75. Following the transaction, the executive vice president owned 13,659 shares in the company, valued at $6,643,054.65. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 79,802 shares of company stock worth $37,402,568 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $436.95 on Friday. The company’s 50-day moving average price is $445.56 and its two-hundred day moving average price is $450.40. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The stock has a market capitalization of $110.90 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.87 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $4.06 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company Profile

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.