California Public Employees Retirement System Sells 87,637 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

California Public Employees Retirement System decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 880,214 shares of the pharmaceutical company's stock after selling 87,637 shares during the period. California Public Employees Retirement System owned about 0.34% of Vertex Pharmaceuticals worth $354,462,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. ABC Arbitrage SA bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $1,510,000. Czech National Bank raised its holdings in Vertex Pharmaceuticals by 6.2% during the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock worth $22,486,000 after acquiring an additional 3,260 shares in the last quarter. Highview Capital Management LLC DE boosted its position in Vertex Pharmaceuticals by 1.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock valued at $2,324,000 after purchasing an additional 102 shares during the last quarter. Davidson Investment Advisors increased its position in shares of Vertex Pharmaceuticals by 26.0% during the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock worth $24,630,000 after purchasing an additional 12,631 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Vertex Pharmaceuticals by 75.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock worth $994,000 after purchasing an additional 1,062 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

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Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded down $0.08 during mid-day trading on Tuesday, reaching $484.74. The stock had a trading volume of 1,249,029 shares, compared to its average volume of 1,279,226. The stock has a 50-day simple moving average of $477.71 and a two-hundred day simple moving average of $463.68. The stock has a market capitalization of $124.48 billion, a PE ratio of -220.34, a P/E/G ratio of 2.11 and a beta of 0.41. 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.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data 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%. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last ninety days. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VRTX. Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a "hold" rating in a report on Monday, December 16th. Truist Financial lifted their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a report on Friday, January 31st. HC Wainwright reaffirmed a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their price objective for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $509.17.

About Vertex Pharmaceuticals

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.