Fmr LLC Reduces Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fmr LLC decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,219,046 shares of the pharmaceutical company’s stock after selling 1,305,967 shares during the period. Fmr LLC owned about 3.58% of Vertex Pharmaceuticals worth $3,712,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. ABC Arbitrage SA purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $1,510,000. Czech National Bank boosted its stake in shares of Vertex Pharmaceuticals by 6.2% during the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after acquiring an additional 3,260 shares during the last quarter. Highview Capital Management LLC DE increased its position in Vertex Pharmaceuticals by 1.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock worth $2,324,000 after purchasing an additional 102 shares in the last quarter. Davidson Investment Advisors raised its stake in Vertex Pharmaceuticals by 26.0% in the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock valued at $24,630,000 after purchasing an additional 12,631 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Vertex Pharmaceuticals by 75.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock valued at $994,000 after purchasing an additional 1,062 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Down 1.9 %

VRTX opened at $474.62 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a market capitalization of $121.88 billion, a PE ratio of -215.74, a P/E/G ratio of 2.11 and a beta of 0.50. The firm’s fifty day moving average price is $481.54 and its 200 day moving average price is $463.73.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results 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 return on equity of 2.02% and a negative net margin of 4.86%. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the topic of a number of analyst reports. Bank of America raised their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Truist Financial lifted their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $509.17.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,315 shares of company stock valued at $2,121,012. Corporate insiders own 0.20% of the company’s stock.

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.