Congress Wealth Management LLC DE Sells 8,155 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Congress Wealth Management LLC DE decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 23.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,093 shares of the pharmaceutical company's stock after selling 8,155 shares during the period. Congress Wealth Management LLC DE's holdings in Vertex Pharmaceuticals were worth $10,911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dunhill Financial LLC lifted its stake in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth $33,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $30,000. Truvestments Capital LLC bought a new stake in Vertex Pharmaceuticals during the third quarter valued at $35,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $35,000. Institutional investors own 90.96% of the company's stock.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction 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 approximately $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. Insiders sold a total of 4,315 shares of company stock valued at $2,121,012 in the last 90 days. Company insiders own 0.20% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Truist Financial lifted 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. 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 report on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price objective for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and upped their target price for the stock from $500.00 to $550.00 in a research report on Monday, December 9th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $506.70.

Vertex Pharmaceuticals Stock Performance

VRTX traded down $5.33 during mid-day trading on Friday, reaching $497.22. 378,702 shares of the company traded hands, compared to its average volume of 1,271,280. The company's fifty day moving average price is $475.04 and its 200-day moving average price is $463.61. The stock has a market capitalization of $127.68 billion, a P/E ratio of -226.01, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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%. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current 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.