Massachusetts Financial Services Co. MA Sells 617,207 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 21.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,288,498 shares of the pharmaceutical company’s stock after selling 617,207 shares during the period. Massachusetts Financial Services Co. MA owned 0.89% of Vertex Pharmaceuticals worth $921,578,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in VRTX. Dunhill Financial LLC grew its stake in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Sugar Maple Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $35,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $37,000. 90.96% of the stock is owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Stock Down 0.0 %

VRTX opened at $484.74 on Wednesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company’s 50-day moving average price is $478.85 and its two-hundred day moving average price is $463.67. The stock has a market cap of $124.48 billion, a price-to-earnings ratio of -220.34, a PEG ratio of 2.11 and a beta of 0.41. 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 (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS 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%. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research reports. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and raised their price target for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Bank of America raised their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Barclays upped their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.17.

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.