Madison Investment Advisors LLC Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Madison Investment Advisors LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,522 shares of the pharmaceutical company’s stock, valued at approximately $5,848,000.

A number of other large investors have also recently modified their holdings of VRTX. Dunhill Financial LLC boosted its holdings in shares of Vertex Pharmaceuticals by 70.6% in the third 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 in the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $33,000. Truvestments Capital LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $503.20 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock’s fifty day moving average price is $467.89 and its 200 day moving average price is $462.69. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a market cap of $129.22 billion, a price-to-earnings ratio of -228.73, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRTX. Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their target price for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

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.