Louisiana State Employees Retirement System cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,300 shares of the pharmaceutical company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Vertex Pharmaceuticals were worth $2,293,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Pennsylvania Trust Co increased its position in shares of Vertex Pharmaceuticals by 79.9% in the fourth quarter. Pennsylvania Trust Co now owns 2,600 shares of the pharmaceutical company’s stock valued at $390,000 after buying an additional 1,155 shares in the last quarter. Atria Investments LLC increased its position in shares of Vertex Pharmaceuticals by 7.9% in the fourth quarter. Atria Investments LLC now owns 4,765 shares of the pharmaceutical company’s stock valued at $714,000 after buying an additional 350 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 14.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 89,882 shares of the pharmaceutical company’s stock valued at $13,470,000 after buying an additional 11,489 shares in the last quarter. DnB Asset Management AS increased its position in shares of Vertex Pharmaceuticals by 2.3% in the fourth quarter. DnB Asset Management AS now owns 26,280 shares of the pharmaceutical company’s stock valued at $3,938,000 after buying an additional 600 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC increased its position in shares of Vertex Pharmaceuticals by 20.9% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 471,142 shares of the pharmaceutical company’s stock valued at $70,605,000 after buying an additional 81,541 shares in the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

In other news, EVP Amit Sachdev sold 40,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $145.05, for a total value of $5,802,000.00. Following the transaction, the executive vice president now owns 89,810 shares of the company’s stock, valued at approximately $13,026,940.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Paul M. Silva sold 1,289 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $152.31, for a total value of $196,327.59. Following the completion of the transaction, the senior vice president now directly owns 17,923 shares in the company, valued at approximately $2,729,852.13. The disclosure for this sale can be found here. Insiders have sold 458,028 shares of company stock worth $67,470,259 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on VRTX. BMO Capital Markets restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, September 27th. Robert W. Baird restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. JPMorgan Chase & Co. restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, January 9th. Cowen restated a “buy” rating and issued a $200.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, December 11th. Finally, Bank of America upgraded Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $175.89.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) opened at $156.99 on Thursday. The firm has a market capitalization of $39,379.50, a price-to-earnings ratio of 201.27, a price-to-earnings-growth ratio of 1.84 and a beta of 1.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28. Vertex Pharmaceuticals Incorporated has a 12 month low of $80.06 and a 12 month high of $167.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. The company had revenue of $578.20 million for the quarter, compared to analyst estimates of $522.07 million. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 0.76 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This story was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.watchlistnews.com/vertex-pharmaceuticals-incorporated-vrtx-stake-lowered-by-louisiana-state-employees-retirement-system/1812088.html.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

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

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.