Legal & General Group Plc Has $758.75 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Legal & General Group Plc lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 18.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,884,153 shares of the pharmaceutical company's stock after selling 419,644 shares during the period. Legal & General Group Plc owned 0.73% of Vertex Pharmaceuticals worth $758,748,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Employees Retirement System of Texas raised its holdings in shares of Vertex Pharmaceuticals by 3.1% during the fourth quarter. Employees Retirement System of Texas now owns 121,600 shares of the pharmaceutical company's stock valued at $48,968,000 after buying an additional 3,600 shares during the last quarter. Bank of Montreal Can increased its position in Vertex Pharmaceuticals by 4.3% in the 4th quarter. Bank of Montreal Can now owns 581,181 shares of the pharmaceutical company's stock valued at $234,042,000 after acquiring an additional 23,964 shares during the period. Polymer Capital Management US LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $329,000. Cerity Partners LLC boosted its position in Vertex Pharmaceuticals by 3.9% during the 4th quarter. Cerity Partners LLC now owns 238,029 shares of the pharmaceutical company's stock worth $97,492,000 after acquiring an additional 8,987 shares during the period. Finally, Edgewood Management LLC grew its stake in shares of Vertex Pharmaceuticals by 91.2% in 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 in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

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Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 26,512 shares of the company's stock, valued at $13,256,000. This trade represents a 10.86 % 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.

Vertex Pharmaceuticals Stock Up 1.8 %

NASDAQ:VRTX traded up $8.73 on Friday, hitting $484.22. 1,574,131 shares of the company's stock traded hands, compared to its average volume of 1,325,555. The firm has a 50-day moving average price of $484.84 and a 200-day moving average price of $464.27. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company has a market cap of $124.34 billion, a PE ratio of -220.10, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year 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 EPS for the quarter, missing analysts' consensus estimates 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%. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VRTX shares. BMO Capital Markets set a $545.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Oppenheimer lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Wells Fargo & Company lowered Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price target for the company. in a research note on Thursday, January 30th. Finally, Morgan Stanley boosted their price objective on 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 investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $512.41.

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.