Fmr LLC Decreases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fmr LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,525,013 shares of the pharmaceutical company’s stock after selling 204,415 shares during the quarter. Fmr LLC owned 4.09% of Vertex Pharmaceuticals worth $4,894,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Edgewood Management LLC increased its position 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 acquiring an additional 1,526,983 shares during the period. Jennison Associates LLC grew its stake in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after purchasing an additional 851,054 shares during the last quarter. Swedbank AB acquired a new position in shares of Vertex Pharmaceuticals in the first quarter valued at about $277,317,000. AMF Tjanstepension AB purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $257,655,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 74,015.5% during the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after purchasing an additional 324,188 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 2.4 %

VRTX stock opened at $461.71 on Tuesday. The company has a market cap of $118.90 billion, a price-to-earnings ratio of -232.02 and a beta of 0.39. The firm has a 50-day moving average of $473.55 and a two-hundred day moving average of $474.04. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.67 earnings per share. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,445 shares of company stock valued at $2,218,394. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America reduced their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 target price for the company. Canaccord Genuity Group increased their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $504.38.

Vertex Pharmaceuticals Company 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.