Mackenzie Financial Corp Sells 23,060 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mackenzie Financial Corp decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,632 shares of the pharmaceutical company's stock after selling 23,060 shares during the quarter. Mackenzie Financial Corp's holdings in Vertex Pharmaceuticals were worth $18,376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors lifted its position in Vertex Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after purchasing an additional 1,514,993 shares during the period. Vanguard Group Inc. lifted its holdings in Vertex Pharmaceuticals by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company's stock valued at $9,366,113,000 after buying an additional 98,654 shares during the period. Capital Research Global Investors boosted its stake in Vertex Pharmaceuticals by 15.8% in the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock valued at $4,199,713,000 after acquiring an additional 1,426,746 shares during the last quarter. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 23.3% during the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after acquiring an additional 1,117,214 shares during the period. Finally, Loomis Sayles & Co. L P raised its position in shares of Vertex Pharmaceuticals by 23.0% during the 4th 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 acquiring an additional 704,575 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent research reports. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price target for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Leerink Partners reaffirmed a "market perform" rating and issued a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $515.04.

Insiders Place Their Bets

In related news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction on 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 owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock traded up $1.99 on Thursday, hitting $447.09. 882,371 shares of the company's stock were exchanged, compared to its average volume of 1,416,283. The company has a 50 day moving average of $472.28 and a 200 day moving average of $461.84. The stock has a market cap of $114.81 billion, a P/E ratio of -203.22, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. 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 12 month low of $377.85 and a 12 month high of $519.88.

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

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.