Edgewood Management LLC Grows Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Edgewood Management LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 91.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,956,608 shares of the pharmaceutical company's stock after acquiring an additional 1,410,238 shares during the quarter. Vertex Pharmaceuticals accounts for 3.4% of Edgewood Management LLC's portfolio, making the stock its 18th biggest holding. Edgewood Management LLC owned about 1.15% of Vertex Pharmaceuticals worth $1,190,626,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $1,374,948,000. Parnassus Investments LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $731,283,000. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 23.3% during the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after acquiring an additional 1,117,214 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $435,899,000. Finally, Loomis Sayles & Co. L P lifted its position in shares of Vertex Pharmaceuticals by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company's stock worth $1,519,302,000 after purchasing an additional 704,575 shares during the period. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In other news, 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 value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares of the company's stock, valued at $30,805,286.70. This represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction dated 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 sale, 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. Insiders sold a total of 4,315 shares of company stock worth $2,121,012 in the last 90 days. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. 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, Bank of America boosted their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $509.17.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded up $6.02 during mid-day trading on Friday, hitting $481.51. The company's stock had a trading volume of 542,725 shares, compared to its average volume of 1,320,580. The business's fifty day moving average is $484.80 and its two-hundred day moving average is $464.12. The stock has a market cap of $123.65 billion, a price-to-earnings ratio of -219.46, 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 1 year low of $377.85 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts' consensus estimates 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%. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.