Mutual of America Capital Management LLC Sells 1,424 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mutual of America Capital Management LLC decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,475 shares of the pharmaceutical company's stock after selling 1,424 shares during the quarter. Mutual of America Capital Management LLC's holdings in Vertex Pharmaceuticals were worth $15,260,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quent Capital LLC grew its position in Vertex Pharmaceuticals by 4.5% in the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after buying an additional 22 shares during the last quarter. Sculati Wealth Management LLC grew its position in Vertex Pharmaceuticals by 1.0% in the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after buying an additional 25 shares during the last quarter. Avidian Wealth Enterprises LLC grew its position in Vertex Pharmaceuticals by 2.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after purchasing an additional 25 shares in the last quarter. Strategic Blueprint LLC grew its position in Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after purchasing an additional 25 shares in the last quarter. Finally, Breakwater Capital Group grew its position in Vertex Pharmaceuticals by 1.5% during the 1st quarter. Breakwater Capital Group now owns 1,786 shares of the pharmaceutical company's stock worth $866,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $9.09 during trading hours on Friday, reaching $366.54. 3,679,339 shares of the company traded hands, compared to its average volume of 1,989,627. The stock's fifty day moving average is $450.77 and its 200 day moving average is $465.51. The stock has a market cap of $93.98 billion, a P/E ratio of 26.20 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 1-year low of $364.66 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($12.83) earnings per share. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VRTX. HC Wainwright lowered their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Canaccord Genuity Group lowered their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley set a $439.00 price target on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $497.10.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

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.