Prosperity Consulting Group LLC Reduces Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Prosperity Consulting Group LLC reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,919 shares of the pharmaceutical company's stock after selling 661 shares during the quarter. Prosperity Consulting Group LLC's holdings in Vertex Pharmaceuticals were worth $1,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors raised its position in Vertex Pharmaceuticals by 5.7% during the fourth 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 in the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 98,654 shares in the last quarter. Capital Research Global Investors boosted its position 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 acquiring an additional 1,426,746 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 valued at $2,382,407,000 after buying an additional 1,117,214 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Vertex Pharmaceuticals by 23.0% during the fourth 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 purchasing an additional 704,575 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ourania Tatsis sold 310 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares of the company's stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded down $10.64 during midday trading on Thursday, reaching $498.86. The company had a trading volume of 1,451,936 shares, compared to its average volume of 1,339,956. The company has a market capitalization of $128.25 billion, a P/E ratio of -226.75, a P/E/G ratio of 2.11 and a beta of 0.50. The firm's fifty day simple moving average is $491.24 and its 200-day simple moving average is $466.94. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. 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 (NASDAQ:VRTX - Get Free Report) last posted its quarterly 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 return on equity of 2.02% and a negative net margin of 4.86%. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRTX. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Scotiabank raised their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, April 22nd. Finally, Piper Sandler dropped their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.