Mackay Shields LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,242 shares of the pharmaceutical company’s stock after selling 1,326 shares during the period. Mackay Shields LLC’s holdings in Vertex Pharmaceuticals were worth $7,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Kaizen Advisory LLC increased its holdings in Vertex Pharmaceuticals by 147.3% during the 2nd quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock worth $102,000 after purchasing an additional 358 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth about $101,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Vertex Pharmaceuticals by 3,126.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock worth $126,000 after purchasing an additional 719 shares in the last quarter. Signaturefd LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth about $131,000. Finally, Point72 Asia Hong Kong Ltd bought a new position in Vertex Pharmaceuticals during the 1st quarter worth about $161,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

In related news, SVP Paul M. Silva sold 2,098 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $174.44, for a total value of $365,975.12. Following the completion of the sale, the senior vice president now directly owns 17,376 shares in the company, valued at approximately $3,031,069.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul M. Silva sold 2,957 shares of the firm’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $166.52, for a total transaction of $492,399.64. Following the completion of the sale, the senior vice president now owns 16,946 shares of the company’s stock, valued at $2,821,847.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 204,540 shares of company stock valued at $33,362,508. Company insiders own 0.75% of the company’s stock.

A number of equities analysts have issued reports on the company. BidaskClub upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, June 15th. Oppenheimer increased their target price on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. BMO Capital Markets increased their target price on Vertex Pharmaceuticals to $204.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a report on Saturday, June 30th. Finally, ValuEngine upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $193.75.

Vertex Pharmaceuticals stock opened at $174.96 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $136.50 and a one year high of $183.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 3.55. The stock has a market cap of $44.68 billion, a PE ratio of 218.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.48.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, July 25th. The pharmaceutical company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.54. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The company had revenue of $752.20 million during the quarter, compared to the consensus estimate of $680.86 million. During the same period in the prior year, the business posted $0.39 EPS. The company’s quarterly revenue was up 38.2% on a year-over-year basis. sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 2.48 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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