Puzo Michael J Purchases 1,872 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Puzo Michael J raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,109 shares of the pharmaceutical company's stock after buying an additional 1,872 shares during the period. Vertex Pharmaceuticals makes up approximately 1.6% of Puzo Michael J's holdings, making the stock its 28th largest holding. Puzo Michael J's holdings in Vertex Pharmaceuticals were worth $5,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. increased its stake in shares of Vertex Pharmaceuticals by 4,913.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,668 shares of the pharmaceutical company's stock worth $3,101,000 after purchasing an additional 6,535 shares in the last quarter. HighTower Advisors LLC increased its position in Vertex Pharmaceuticals by 7.6% during the third quarter. HighTower Advisors LLC now owns 57,242 shares of the pharmaceutical company's stock worth $26,494,000 after buying an additional 4,048 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Vertex Pharmaceuticals by 53.1% in the third quarter. Integrated Wealth Concepts LLC now owns 5,109 shares of the pharmaceutical company's stock worth $2,376,000 after acquiring an additional 1,772 shares during the last quarter. IHT Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 22.6% in the third quarter. IHT Wealth Management LLC now owns 2,531 shares of the pharmaceutical company's stock valued at $1,180,000 after acquiring an additional 467 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Vertex Pharmaceuticals by 36.2% during the third quarter. Quantinno Capital Management LP now owns 19,695 shares of the pharmaceutical company's stock valued at $9,160,000 after acquiring an additional 5,238 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 0.5 %

NASDAQ:VRTX traded down $2.56 during trading hours on Wednesday, hitting $469.81. 1,024,497 shares of the stock traded hands, compared to its average volume of 1,515,050. The firm has a market cap of $120.64 billion, a price-to-earnings ratio of -213.55, a PEG ratio of 2.11 and a beta of 0.50. The firm has a 50 day moving average price of $483.41 and a 200 day moving average price of $463.75. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

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

Insider Buying and Selling

In related news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction 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 completion of the sale, the executive vice president now owns 26,512 shares of the company's stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The transaction 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 transaction, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent research reports. Barclays upped their target price 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. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 target price for the company. in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $509.17.

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.