Westbourne Investments Inc. Acquires Shares of 3,306 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Westbourne Investments Inc. purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,306 shares of the pharmaceutical company's stock, valued at approximately $1,331,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Capital World Investors increased its holdings in shares of Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after buying an additional 1,514,993 shares in the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 98,654 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Vertex Pharmaceuticals by 15.8% during the fourth 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 in the last quarter. Wellington Management Group LLP grew its holdings in shares of Vertex Pharmaceuticals by 23.3% during the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Vertex Pharmaceuticals by 23.0% in 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 buying an additional 704,575 shares during the period. 90.96% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Ourania Tatsis sold 530 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the completion of the sale, the executive vice president now owns 58,539 shares in the company, valued at $27,825,928.26. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction dated Monday, March 10th. The stock was 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 approximately $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. Insiders have sold 4,315 shares of company stock worth $2,121,012 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VRTX shares. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Scotiabank increased their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their target price for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada upped their target price on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a report on Tuesday, April 1st. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $514.91.

Vertex Pharmaceuticals Stock Up 0.5 %

Shares of VRTX traded up $2.29 during trading hours on Friday, reaching $501.15. The stock had a trading volume of 1,652,430 shares, compared to its average volume of 1,343,819. The firm has a 50-day simple moving average of $492.00 and a 200 day simple moving average of $467.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $128.84 billion, a price-to-earnings ratio of -227.80, a P/E/G ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.