Capital Group Investment Management PTE. LTD. Grows Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Capital Group Investment Management PTE. LTD. boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,581 shares of the pharmaceutical company's stock after acquiring an additional 2,435 shares during the quarter. Vertex Pharmaceuticals accounts for 1.8% of Capital Group Investment Management PTE. LTD.'s holdings, making the stock its 10th largest holding. Capital Group Investment Management PTE. LTD.'s holdings in Vertex Pharmaceuticals were worth $9,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Truvestments Capital LLC lifted its stake in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares during the last quarter. Simon Quick Advisors LLC grew its position in Vertex Pharmaceuticals by 1.1% during the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock worth $900,000 after acquiring an additional 24 shares during the last quarter. Spinnaker Trust raised its position in Vertex Pharmaceuticals by 2.1% in the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock valued at $497,000 after purchasing an additional 25 shares during the last quarter. Strategic Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.6% during the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock worth $1,807,000 after purchasing an additional 25 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock valued at $1,451,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 0.7 %

NASDAQ:VRTX opened at $489.10 on Friday. The company has a market cap of $125.60 billion, a PE ratio of -222.32, a PEG ratio of 2.11 and a beta of 0.50. 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 Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm has a 50-day moving average of $486.09 and a 200-day moving average of $465.07.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (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 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 subject of several analyst reports. Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 1st. Oppenheimer lowered Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Bank of America lifted their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Truist Financial upped their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $512.41.

Insider Activity 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 value of $1,615,500.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 530 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the sale, the executive vice president now directly owns 58,539 shares of the company's stock, valued at $27,825,928.26. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last ninety days. Corporate insiders own 0.20% of the company's stock.

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.

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