Thrivent Financial for Lutherans Sells 3,119 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Thrivent Financial for Lutherans lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,675 shares of the pharmaceutical company’s stock after selling 3,119 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Vertex Pharmaceuticals were worth $42,637,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of VRTX. Creative Planning boosted its position in Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Vertex Pharmaceuticals by 640.0% during the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after buying an additional 1,248 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $74,213,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $21,008,000. Finally, Mizuho Securities USA LLC grew its position in shares of Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after buying an additional 57,497 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $467.01 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 52 week low of $346.29 and a 52 week high of $519.88. The company has a fifty day simple moving average of $476.31 and a two-hundred day simple moving average of $472.56.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the business earned $3.67 EPS. The company’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on VRTX. Guggenheim raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America lowered their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Truist Financial reaffirmed a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Citigroup initiated coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. Finally, Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $499.12.

Vertex Pharmaceuticals 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.