Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Cerity Partners LLC

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Cerity Partners LLC lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,553 shares of the pharmaceutical company's stock after buying an additional 2,745 shares during the period. Cerity Partners LLC owned approximately 0.10% of Vertex Pharmaceuticals worth $118,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VRTX. Vanguard Group Inc. increased its holdings in Vertex Pharmaceuticals by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company's stock valued at $9,484,293,000 after purchasing an additional 243,088 shares in the last quarter. Capital Research Global Investors increased its holdings in Vertex Pharmaceuticals by 4.6% in the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company's stock valued at $7,850,544,000 after purchasing an additional 763,063 shares in the last quarter. Capital International Investors increased its holdings in Vertex Pharmaceuticals by 0.9% in the 4th quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company's stock valued at $2,146,041,000 after purchasing an additional 44,537 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Vertex Pharmaceuticals by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company's stock valued at $1,771,226,000 after purchasing an additional 144,266 shares in the last quarter. Finally, Norges Bank acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $1,440,149,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $442.96 on Tuesday. The business has a 50-day moving average of $437.12 and a 200-day moving average of $451.98. The company has a market capitalization of $112.42 billion, a PE ratio of 26.27, a P/E/G ratio of 1.91 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the company posted $4.06 earnings per share. The company's quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Joy Liu sold 1,104 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the transaction, the executive vice president owned 20,729 shares of the company's stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the transaction, the chief marketing officer directly owned 26,088 shares in the company, valued at $11,739,600. The trade was a 21.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 11,717 shares of company stock valued at $5,309,945. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VRTX shares. Barclays increased their price target on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Citigroup increased their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a "buy" rating in a report on Tuesday, March 10th. Truist Financial started coverage on Vertex Pharmaceuticals in a report on Wednesday, May 27th. They issued a "buy" rating and a $542.00 price target for the company. Sanford C. Bernstein lowered their price target on Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings upgraded Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $555.91.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

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