F M Investments LLC Has $12.45 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

F M Investments LLC reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 27.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,915 shares of the pharmaceutical company's stock after selling 11,548 shares during the quarter. F M Investments LLC's holdings in Vertex Pharmaceuticals were worth $12,449,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VRTX. Vanguard Group Inc. boosted its position in Vertex Pharmaceuticals by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company's stock worth $9,366,113,000 after purchasing an additional 98,654 shares during the period. Wellington Management Group LLP grew its stake in Vertex Pharmaceuticals by 23.3% in the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock valued at $2,382,407,000 after buying an additional 1,117,214 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in 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 valued at $1,519,302,000 after buying an additional 704,575 shares during the last quarter. Norges Bank bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $1,374,948,000. Finally, Edgewood Management LLC lifted its position in Vertex Pharmaceuticals by 91.2% during the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock worth $1,190,626,000 after acquiring an additional 1,410,238 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

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Vertex Pharmaceuticals Trading Up 2.4 %

NASDAQ VRTX traded up $11.61 during trading hours on Monday, reaching $495.83. The company's stock had a trading volume of 1,359,432 shares, compared to its average volume of 1,326,190. The firm has a fifty day simple moving average of $484.84 and a 200-day simple moving average of $464.28. 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 52 week low of $377.85 and a 52 week high of $519.88. The stock has a market cap of $127.32 billion, a P/E ratio of -225.38, a P/E/G ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly 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%. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 shares were 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 approximately $13,256,000. The trade was a 10.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ourania Tatsis sold 244 shares of the 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 sale, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

VRTX has been the topic of several recent research reports. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Oppenheimer downgraded Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Piper Sandler decreased their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Finally, Stifel Nicolaus upped their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a "hold" rating in a research report on Monday, December 16th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $512.41.

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.