Nomura Asset Management Co. Ltd. Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Nomura Asset Management Co. Ltd. cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 150,715 shares of the pharmaceutical company’s stock after selling 18,822 shares during the period. Nomura Asset Management Co. Ltd. owned 0.06% of Vertex Pharmaceuticals worth $61,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Arlington Trust Co LLC lifted its position in Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 33 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Baystate Wealth Management LLC boosted its holdings in Vertex Pharmaceuticals by 49.0% in the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 25 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $33,000. Finally, NBC Securities Inc. purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $34,000. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $17,920,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ourania Tatsis sold 354 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now directly owns 55,804 shares in the company, valued at $23,755,762.80. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VRTX shares. UBS Group dropped their price objective on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Guggenheim lifted their target price on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Barclays upped their target price on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Finally, Sanford C. Bernstein lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $432.18.

Vertex Pharmaceuticals Price Performance

VRTX stock traded up $6.15 during mid-day trading on Friday, reaching $456.95. The company’s stock had a trading volume of 1,050,952 shares, compared to its average volume of 1,143,952. The stock has a market cap of $117.92 billion, a PE ratio of 29.65, a P/E/G ratio of 2.31 and a beta of 0.39. The company’s 50 day moving average is $413.48 and its two-hundred day moving average is $406.78. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $320.01 and a fifty-two week high of $457.66. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the firm earned $2.67 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.28 EPS for the current year.

About Vertex Pharmaceuticals

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.