Reynders McVeigh Capital Management LLC Increases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Reynders McVeigh Capital Management LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,254 shares of the pharmaceutical company's stock after acquiring an additional 3,524 shares during the period. Reynders McVeigh Capital Management LLC's holdings in Vertex Pharmaceuticals were worth $21,043,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $1,374,948,000. Parnassus Investments LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $731,283,000. Edgewood Management LLC boosted its holdings in shares of 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 period. Wellington Management Group LLP grew its stake in shares of Vertex Pharmaceuticals by 23.3% in the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $435,899,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded up $3.21 during trading hours on Friday, reaching $489.10. The company had a trading volume of 1,205,462 shares, compared to its average volume of 1,328,900. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year 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. The business has a fifty day moving average price of $486.09 and a 200-day moving average price of $465.07. The firm has a market cap of $125.60 billion, a PE ratio of -222.32, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 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%. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. StockNews.com raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Barclays boosted their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $512.41.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was 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 of the company's stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their position. 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. 0.20% of the stock is owned by company 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.