Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by GeoWealth Management LLC

GeoWealth Management LLC trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 49.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,313 shares of the pharmaceutical company's stock after selling 1,292 shares during the quarter. GeoWealth Management LLC's holdings in Vertex Pharmaceuticals were worth $529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. Vanguard Group Inc. increased its holdings in shares of Vertex Pharmaceuticals by 0.4% in 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 last quarter. 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 valued at $2,382,407,000 after buying an additional 1,117,214 shares in the last quarter. Loomis Sayles & Co. L P increased 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 worth $1,519,302,000 after acquiring an additional 704,575 shares during the last quarter. Norges Bank purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $1,374,948,000. Finally, Edgewood Management LLC boosted its position in shares of Vertex Pharmaceuticals by 91.2% during the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock valued at $1,190,626,000 after acquiring an additional 1,410,238 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Up 0.3 %

VRTX stock traded up $1.37 during midday trading on Friday, hitting $493.84. The company's stock had a trading volume of 1,541,482 shares, compared to its average volume of 1,332,507. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a 50-day simple moving average of $489.14 and a 200-day simple moving average of $466.12. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $126.81 billion, a P/E ratio of -224.47, a PEG ratio of 2.11 and a beta of 0.50.

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 for the quarter, missing the consensus estimate 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%. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Truist Financial raised their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Royal Bank of Canada boosted their target price on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 1st. Scotiabank lifted their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 target price on the stock. in a research note on Thursday, January 30th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $514.91.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. 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 Vertex Pharmaceuticals stock in a transaction 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 sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last 90 days. 0.20% of the stock is owned by insiders.

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.