Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,900 shares of the pharmaceutical company's stock after selling 3,775 shares during the quarter. Thrivent Financial for Lutherans' holdings in Vertex Pharmaceuticals were worth $35,554,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Parnassus Investments LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at $731,283,000. Edgewood Management LLC increased its stake in shares of Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock valued at $719,186,000 after purchasing 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 4th quarter valued at about $435,899,000. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock worth $2,581,373,000 after purchasing an additional 851,054 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in 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 valued at $2,231,858,000 after purchasing an additional 704,421 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their target price for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Oppenheimer downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Piper Sandler cut their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $506.70.

Vertex Pharmaceuticals Stock Up 1.7 %

VRTX stock traded up $8.54 during mid-day trading on Monday, reaching $511.74. The company had a trading volume of 1,237,571 shares, compared to its average volume of 1,221,134. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a market capitalization of $131.41 billion, a price-to-earnings ratio of -232.61, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. 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 firm has a fifty day simple moving average of $467.89 and a 200 day simple moving average of $462.49.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company's 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 transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares in the company, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 over the last three months. 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.