Strategy Asset Managers LLC Decreases Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Strategy Asset Managers LLC cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,614 shares of the pharmaceutical company’s stock after selling 95 shares during the quarter. Strategy Asset Managers LLC’s holdings in Vertex Pharmaceuticals were worth $1,053,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $1,374,948,000. Parnassus Investments LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $731,283,000. WCM Investment Management LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $435,899,000. Loomis Sayles & Co. L P raised its position in Vertex Pharmaceuticals by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock valued at $1,519,302,000 after purchasing an additional 704,575 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after purchasing an additional 704,421 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 2.0 %

NASDAQ:VRTX opened at $492.69 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The firm has a 50-day simple moving average of $476.45 and a 200-day simple moving average of $463.76. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm has a market cap 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 announced its earnings results 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%. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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 on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction on 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 sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This 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.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a report on Friday, January 31st. Bank of America lowered their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Barclays upped their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Stifel Nicolaus raised their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

About Vertex Pharmaceuticals

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.