Convergence Investment Partners LLC Acquires 573 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Convergence Investment Partners LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 109.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,095 shares of the pharmaceutical company's stock after purchasing an additional 573 shares during the period. Convergence Investment Partners LLC's holdings in Vertex Pharmaceuticals were worth $441,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VRTX. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals in the third quarter worth about $27,000. Dunhill Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX traded up $3.78 during trading hours on Friday, hitting $484.11. The company's stock had a trading volume of 740,699 shares, compared to its average volume of 1,519,651. The stock has a market cap of $124.31 billion, a price-to-earnings ratio of -220.23, a P/E/G ratio of 2.07 and a beta of 0.41. The business's 50-day moving average price is $435.64 and its 200-day moving average price is $460.65. 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 12 month low of $377.85 and a 12 month high of $519.88.

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 (EPS) 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%. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. UBS Group upped their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their target price for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Jefferies Financial Group raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their price target for the company from $500.00 to $550.00 in a report on Monday, December 9th. Finally, HC Wainwright reiterated a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $505.61.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction that occurred 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 owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.