California Public Employees Retirement System Decreases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

California Public Employees Retirement System trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 880,214 shares of the pharmaceutical company’s stock after selling 87,637 shares during the quarter. California Public Employees Retirement System owned 0.34% of Vertex Pharmaceuticals worth $354,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. ABC Arbitrage SA purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $1,510,000. Czech National Bank boosted its position in shares of Vertex Pharmaceuticals by 6.2% during the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after buying an additional 3,260 shares during the period. Highview Capital Management LLC DE grew its stake in shares of Vertex Pharmaceuticals by 1.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after buying an additional 102 shares during the last quarter. Davidson Investment Advisors raised its holdings in shares of Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after buying an additional 12,631 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Vertex Pharmaceuticals by 75.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock worth $994,000 after acquiring an additional 1,062 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VRTX shares. Bank of America reduced their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Piper Sandler reduced 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 note on Monday, January 27th. Royal Bank of Canada boosted their price objective on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, 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 report on Thursday, January 30th. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

Vertex Pharmaceuticals Trading Down 2.0 %

Shares of NASDAQ:VRTX opened at $492.69 on Friday. The business’s 50-day moving average is $476.45 and its 200 day moving average is $463.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm has a market capitalization of $126.52 billion, a P/E ratio of -223.95, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals 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 completion of the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last ninety days. 0.20% of the stock is currently owned by insiders.

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.