MassMutual Private Wealth & Trust FSB Has $8.25 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

MassMutual Private Wealth & Trust FSB raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 172.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,016 shares of the pharmaceutical company's stock after acquiring an additional 10,774 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Vertex Pharmaceuticals were worth $8,250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $1,374,948,000. Parnassus Investments LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $731,283,000. Capital World Investors raised its stake 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 last quarter. Capital Research Global Investors raised its stake in 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 valued at $4,199,713,000 after purchasing an additional 1,426,746 shares during the last quarter. Finally, Edgewood Management LLC raised its stake in Vertex Pharmaceuticals by 91.2% during the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock valued at $1,190,626,000 after purchasing an additional 1,410,238 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several research analyst reports. Royal Bank of Canada upped their target price on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their target price for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Finally, Wolfe Research cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $515.04.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded down $4.08 during mid-day trading on Friday, reaching $443.01. 2,581,676 shares of the company were exchanged, compared to its average volume of 1,424,504. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a fifty day moving average of $469.67 and a 200 day moving average of $461.14. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock has a market cap of $113.76 billion, a PE ratio of -201.37, a PEG ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 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 company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the company earned $4.76 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP David Altshuler sold 3,231 shares of the firm's 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 transaction, the executive vice president now owns 26,512 shares of the company's stock, valued at approximately $13,256,000. This trade represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company's stock.

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.