Geode Capital Management LLC Decreases Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Geode Capital Management LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,648,236 shares of the pharmaceutical company's stock after selling 287,652 shares during the quarter. Geode Capital Management LLC owned about 2.19% of Vertex Pharmaceuticals worth $2,269,073,000 at the end of the most recent reporting period.

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

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Insiders Place Their Bets

In related news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 530 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was 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 in the company, valued at approximately $27,825,928.26. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Stock Down 0.3 %

NASDAQ:VRTX traded down $1.25 during mid-day trading on Wednesday, hitting $483.49. 987,547 shares of the company's stock traded hands, compared to its average volume of 1,281,318. The company has a market capitalization of $124.16 billion, a P/E ratio of -219.77, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The company has a fifty day moving average of $479.96 and a 200 day moving average of $463.81. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Truist Financial increased their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Cantor Fitzgerald restated an "overweight" rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their price target for the company from $500.00 to $550.00 in a report on Monday, December 9th. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $509.17.

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.