Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Bamco Inc. NY

Bamco Inc. NY decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 21.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,000 shares of the pharmaceutical company's stock after selling 5,000 shares during the quarter. Bamco Inc. NY's holdings in Vertex Pharmaceuticals were worth $7,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Norges Bank bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $1,374,948,000. Parnassus Investments LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $731,283,000. Capital World Investors raised its stake in shares of Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after acquiring an additional 1,514,993 shares in the last quarter. Capital Research Global Investors grew its position in shares of Vertex Pharmaceuticals by 15.8% during the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after buying an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC raised its stake in Vertex Pharmaceuticals by 91.2% in the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock worth $1,190,626,000 after buying an additional 1,410,238 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 in the company, valued at approximately $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 a total of 4,315 shares of company stock valued at $2,121,012 over the last quarter. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Down 1.2 %

Shares of NASDAQ VRTX traded down $5.22 during trading on Thursday, reaching $429.60. The stock had a trading volume of 2,940,779 shares, compared to its average volume of 1,385,961. The business's 50-day moving average price is $489.96 and its 200-day moving average price is $466.24. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. 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 company has a market cap of $110.44 billion, a P/E ratio of -195.27, a PEG ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the prior year, the firm earned $4.76 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on VRTX shares. Bank of America increased their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Royal Bank of Canada raised their target price on Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a "sector perform" rating in a report on Tuesday. Morgan Stanley upped their price objective on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday. Finally, Barclays increased their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Thirteen investment 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 stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $515.04.

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.