Madison Investment Advisors LLC Makes New $5.85 Million Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Madison Investment Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,522 shares of the pharmaceutical company's stock, valued at approximately $5,848,000.

A number of other large investors also recently modified their holdings of VRTX. Edgewood Management LLC boosted its holdings in Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock worth $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $435,899,000. Wellington Management Group LLP boosted its holdings in shares of Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock worth $2,231,858,000 after acquiring an additional 704,421 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company's stock valued at $338,136,000 after buying an additional 528,029 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $190,037,000. 90.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of the company's 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 completion of the transaction, the executive vice president now directly owns 58,539 shares in the company, valued at $27,825,928.26. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,315 shares of company stock valued at $2,121,012. Corporate insiders own 0.20% of the company's stock.

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Vertex Pharmaceuticals Stock Down 1.7 %

Shares of VRTX traded down $8.76 during trading hours on Wednesday, hitting $500.28. The company had a trading volume of 1,328,280 shares, compared to its average volume of 1,221,422. The stock has a market capitalization of $128.47 billion, a price-to-earnings ratio of -227.40, a P/E/G ratio of 2.11 and a beta of 0.41. The firm has a fifty day moving average price of $471.81 and a 200-day moving average price of $463.08. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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 return on equity of 2.02% and a negative net margin of 4.86%. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VRTX shares. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Stifel Nicolaus raised their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a research note on Monday, December 16th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and boosted their target price for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten equities 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $506.70.

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.