Chase Investment Counsel Corp Cuts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Chase Investment Counsel Corp decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,744 shares of the pharmaceutical company’s stock after selling 436 shares during the period. Vertex Pharmaceuticals makes up about 1.2% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 28th largest position. Chase Investment Counsel Corp’s holdings in Vertex Pharmaceuticals were worth $2,744,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Vertex Pharmaceuticals by 0.4% in the third quarter. Vanguard Group Inc. now owns 21,983,356 shares of the pharmaceutical company’s stock valued at $7,644,492,000 after buying an additional 87,397 shares during the period. Jennison Associates LLC grew its position in shares of Vertex Pharmaceuticals by 3.9% during the fourth quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock worth $1,605,146,000 after buying an additional 147,248 shares in the last quarter. Morgan Stanley raised its stake in shares of Vertex Pharmaceuticals by 3.2% during the third quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock valued at $998,050,000 after purchasing an additional 89,217 shares in the last quarter. Northern Trust Corp raised its stake in shares of Vertex Pharmaceuticals by 4.9% during the third quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock valued at $978,388,000 after purchasing an additional 131,539 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Vertex Pharmaceuticals by 3.5% during the third quarter. Invesco Ltd. now owns 2,016,780 shares of the pharmaceutical company’s stock valued at $701,315,000 after purchasing an additional 67,451 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In other news, EVP Amit Sachdev sold 3,222 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the sale, the executive vice president now directly owns 74,364 shares in the company, valued at approximately $31,250,727.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman Jeffrey M. Leiden sold 2,656 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $419.51, for a total value of $1,114,218.56. Following the completion of the sale, the chairman now directly owns 27,644 shares in the company, valued at approximately $11,596,934.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The disclosure for this sale can be found here. Insiders sold a total of 12,381 shares of company stock worth $5,203,249 in the last three months. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Down 0.1 %

NASDAQ:VRTX traded down $0.26 on Monday, hitting $397.22. 253,592 shares of the company’s stock traded hands, compared to its average volume of 1,215,962. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1 year low of $320.01 and a 1 year high of $448.40. The firm has a 50-day moving average price of $411.60 and a 200-day moving average price of $399.17. The company has a market cap of $102.67 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.87 and a beta of 0.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.85 by $0.35. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. During the same period in the previous year, the company earned $3.33 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VRTX. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price on the stock in a report on Thursday, April 11th. HC Wainwright lifted their target price on Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Wells Fargo & Company lifted their target price on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $440.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $429.45.

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.