Mackay Shields LLC Has $6.41 Million Position in Vertex Pharmaceuticals Incorporated (VRTX)

Mackay Shields LLC lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.1% in the fourth quarter, HoldingsChannel reports. The firm owned 38,695 shares of the pharmaceutical company’s stock after selling 2,067 shares during the quarter. Mackay Shields LLC’s holdings in Vertex Pharmaceuticals were worth $6,412,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Resources Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $27,000. We Are One Seven LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $32,000. Berman Capital Advisors LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $35,000. Quantamental Technologies LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $41,000. Finally, JOYN Advisors Inc. raised its stake in Vertex Pharmaceuticals by 66.7% during the fourth quarter. JOYN Advisors Inc. now owns 260 shares of the pharmaceutical company’s stock worth $43,000 after acquiring an additional 104 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Michael Parini sold 4,250 shares of the company’s stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $165.90, for a total value of $705,075.00. Following the sale, the executive vice president now directly owns 43,859 shares in the company, valued at $7,276,208.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paul M. Silva sold 4,215 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $180.16, for a total value of $759,374.40. Following the completion of the sale, the senior vice president now owns 23,386 shares in the company, valued at $4,213,221.76. The disclosure for this sale can be found here. Insiders sold 214,999 shares of company stock worth $39,289,000 over the last quarter. 0.75% of the stock is currently owned by company insiders.

Several brokerages have commented on VRTX. Svb Leerink reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday. Leerink Swann downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $185.40 target price for the company. in a research note on Tuesday. They noted that the move was a valuation call. BidaskClub raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Friday, March 8th. Finally, Oppenheimer boosted their target price on Vertex Pharmaceuticals from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $205.65.

Vertex Pharmaceuticals stock opened at $181.76 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $144.07 and a 1 year high of $195.81. The company has a market capitalization of $47.93 billion, a PE ratio of 64.23, a PEG ratio of 2.38 and a beta of 1.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.24. Vertex Pharmaceuticals had a return on equity of 24.15% and a net margin of 68.81%. The company had revenue of $870.11 million during the quarter, compared to the consensus estimate of $818.29 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The firm’s revenue was up 33.5% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post 3.04 EPS for the current fiscal year.

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About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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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)

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