Scotia Capital Inc. Sells 573 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Scotia Capital Inc. lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,767 shares of the pharmaceutical company’s stock after selling 573 shares during the period. Scotia Capital Inc.’s holdings in Vertex Pharmaceuticals were worth $2,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Truvestments Capital LLC boosted its stake in shares of Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock worth $900,000 after buying an additional 24 shares during the period. Spinnaker Trust grew its holdings in shares of Vertex Pharmaceuticals by 2.1% during the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock worth $497,000 after acquiring an additional 25 shares during the period. Strategic Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock worth $1,807,000 after acquiring an additional 25 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company’s stock valued at $1,451,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $484.22 on Friday. The stock has a market capitalization of $124.34 billion, a price-to-earnings ratio of -220.10, a PEG ratio of 2.11 and a beta of 0.50. 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 2.69 and a quick ratio of 2.35. The business’s fifty day moving average price is $484.84 and its 200-day moving average price is $464.27.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

VRTX has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. StockNews.com raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with 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, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $512.41.

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.