Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Boosted by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,884 shares of the pharmaceutical company's stock after buying an additional 873 shares during the period. MetLife Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $29,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisory Resource Group boosted its holdings in shares of Vertex Pharmaceuticals by 3.2% in the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock valued at $916,000 after acquiring an additional 61 shares during the period. Anchor Investment Management LLC grew its position in Vertex Pharmaceuticals by 1,352.3% during the 3rd quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock worth $736,000 after purchasing an additional 1,474 shares during the last quarter. World Investment Advisors LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter worth $24,280,000. Wilmington Savings Fund Society FSB acquired a new position in Vertex Pharmaceuticals in the third quarter valued at $2,187,000. Finally, Destination Wealth Management boosted its stake in shares of Vertex Pharmaceuticals by 4.5% during the third quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock worth $1,563,000 after buying an additional 144 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.1 %

Shares of NASDAQ VRTX traded down $0.48 during midday trading on Friday, hitting $491.99. The stock had a trading volume of 762,424 shares, compared to its average volume of 1,514,584. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a fifty day moving average price of $489.14 and a 200 day moving average price of $466.12. 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 company has a market capitalization of $126.34 billion, a price-to-earnings ratio of -223.63, a PEG ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on VRTX shares. Morgan Stanley upped their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Scotiabank boosted their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Bank of America raised their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Finally, Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their target price for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $514.91.

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.