MML Investors Services LLC Has $14.59 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

MML Investors Services LLC cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 24.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,219 shares of the pharmaceutical company's stock after selling 11,858 shares during the period. MML Investors Services LLC's holdings in Vertex Pharmaceuticals were worth $14,585,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $1,374,948,000. Parnassus Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $731,283,000. Capital World Investors boosted its position in shares of Vertex Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after acquiring an additional 1,514,993 shares in the last quarter. Capital Research Global Investors raised its position in Vertex Pharmaceuticals by 15.8% during the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock valued at $4,199,713,000 after purchasing an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC lifted its stake 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 purchasing an additional 1,410,238 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Up 2.7 %

Shares of VRTX stock opened at $490.47 on Wednesday. The company has a market cap of $125.95 billion, a P/E ratio of -222.94, a PEG ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a 50 day simple moving average of $487.81 and a two-hundred day simple moving average of $465.64. 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%. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VRTX shares. Scotiabank boosted their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Barclays lifted their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Piper Sandler lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Finally, BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten investment 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 data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $514.91.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction 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 completion of the sale, the executive vice president now owns 64,021 shares of the company's stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the company's 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 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 disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock valued at $2,121,012 in the last three months. Corporate insiders own 0.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.