Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 34.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,057 shares of the pharmaceutical company's stock after selling 33,779 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Vertex Pharmaceuticals were worth $25,393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VRTX. Norges Bank acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $1,374,948,000. Parnassus Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $731,283,000. Capital World Investors grew its holdings in shares of Vertex Pharmaceuticals by 5.7% in 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 during the period. Capital Research Global Investors boosted its position in shares of Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after buying an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC increased its stake 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 worth $1,190,626,000 after purchasing an additional 1,410,238 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on VRTX shares. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and boosted their price target for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a research note on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Ten 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 stock. According to data from MarketBeat, the stock has an average 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 244 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,315 shares of company stock valued at $2,121,012. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.3 %

VRTX stock traded up $1.37 during midday trading on Friday, reaching $493.84. 1,561,033 shares of the company traded hands, compared to its average volume of 1,332,580. The business has a 50 day moving average of $489.14 and a 200-day moving average of $466.12. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a market capitalization of $126.81 billion, a price-to-earnings ratio of -224.47, a P/E/G ratio of 2.11 and a beta of 0.50. 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 announced its 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals 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.