Lockheed Martin Investment Management Co. Sells 1,660 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Lockheed Martin Investment Management Co. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,290 shares of the pharmaceutical company’s stock after selling 1,660 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $3,338,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of VRTX. Mutual Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 0.6% during the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares during the period. Daymark Wealth Partners LLC lifted its holdings in Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares during the period. Grove Bank & Trust grew its position in shares of Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after buying an additional 22 shares during the last quarter. Outlook Wealth Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after buying an additional 24 shares during the period. Finally, Dunhill Financial LLC raised its position in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $482.28 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 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. The stock has a 50-day moving average price of $434.73 and a 200-day moving average price of $462.62.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the firm posted $3.67 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.93 earnings per share for the current year.

Analyst Ratings Changes

VRTX has been the topic of a number of research analyst reports. Piper Sandler cut their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Bank of America lowered their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Scotiabank increased their price target on Vertex Pharmaceuticals from $430.00 to $433.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Barclays reduced their price objective on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $502.58.

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.