Vertex Pharmaceuticals Incorporated $VRTX Holdings Lowered by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,469 shares of the pharmaceutical company’s stock after selling 1,752 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Vertex Pharmaceuticals were worth $7,466,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Earned Wealth Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after purchasing an additional 21 shares during the period. Confluence Wealth Services Inc. lifted its position in shares of Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after purchasing an additional 21 shares in the last quarter. Childress Capital Advisors LLC boosted its position in Vertex Pharmaceuticals by 3.1% during the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after purchasing an additional 22 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Vertex Pharmaceuticals by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock valued at $2,279,000 after purchasing an additional 24 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in Vertex Pharmaceuticals by 28.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock valued at $52,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $430.44 on Thursday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The company has a market capitalization of $109.25 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.86 and a beta of 0.30. The company’s fifty day moving average price is $444.02 and its 200 day moving average price is $450.91.

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 analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company earned $4.06 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VRTX shares. Oppenheimer lifted their price objective on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Scotiabank boosted their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Bank of America boosted their target price 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. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, HC Wainwright increased their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $555.17.

Insider Activity at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction dated 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 sale, the chief marketing officer directly owned 26,088 shares of the company’s stock, valued at $11,739,600. This trade represents a 21.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the sale, the executive vice president directly owned 20,729 shares in the company, valued at approximately $8,810,239.58. This trade represents a 5.06% 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. Over the last quarter, insiders sold 21,189 shares of company stock valued at $9,923,036. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals 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.