Prudent Man Advisors LLC Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Prudent Man Advisors LLC decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,762 shares of the pharmaceutical company’s stock after selling 122 shares during the quarter. Prudent Man Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $710,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VRTX. Edgewood Management LLC lifted its position in shares of Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth $435,899,000. Jennison Associates LLC grew its holdings in shares of Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after buying an additional 704,421 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Vertex Pharmaceuticals by 169.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock worth $338,136,000 after buying an additional 528,029 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the transaction, the executive vice president now directly owns 58,539 shares in the company, valued at $27,825,928.26. This represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 1,084 shares of company stock worth $505,512. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a research note on Thursday, January 30th. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Truist Financial lifted their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Scotiabank increased their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Trading Up 1.1 %

VRTX opened at $479.79 on Friday. The firm has a market capitalization of $123.21 billion, a P/E ratio of -218.09, a P/E/G ratio of 2.11 and a beta of 0.41. The firm’s 50 day moving average is $440.39 and its 200-day moving average is $461.10. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate 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%. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.