Sfmg LLC Cuts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sfmg LLC reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,649 shares of the pharmaceutical company’s stock after selling 96 shares during the quarter. Sfmg LLC’s holdings in Vertex Pharmaceuticals were worth $3,080,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Commerce Bank boosted its position in shares of Vertex Pharmaceuticals by 11.6% during the 3rd quarter. Commerce Bank now owns 7,443 shares of the pharmaceutical company’s stock valued at $3,462,000 after acquiring an additional 775 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,626,347 shares of the pharmaceutical company’s stock valued at $756,381,000 after acquiring an additional 20,361 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 21.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 8,119 shares of the pharmaceutical company’s stock valued at $4,195,000 after acquiring an additional 1,440 shares during the last quarter. Edgewood Management LLC boosted its position in shares of Vertex Pharmaceuticals by 7,876.3% during 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 last quarter. Finally, Covenant Asset Management LLC boosted its position in shares of Vertex Pharmaceuticals by 0.9% during the 3rd quarter. Covenant Asset Management LLC now owns 12,764 shares of the pharmaceutical company’s stock valued at $5,936,000 after acquiring an additional 118 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $503.20 on Friday. The firm has a market cap of $129.22 billion, a P/E ratio of -228.73, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The stock’s fifty day moving average price is $467.89 and its 200-day moving average price is $462.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 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, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on VRTX shares. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Truist Financial raised their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Oppenheimer downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. StockNews.com upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Finally, Stifel Nicolaus raised their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 over the last quarter. Insiders own 0.20% of the company’s stock.

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.