Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 89.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,238 shares of the pharmaceutical company’s stock after purchasing an additional 103,769 shares during the quarter. DAVENPORT & Co LLC’s holdings in Vertex Pharmaceuticals were worth $89,251,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $707,950,000. Macquarie Group Ltd. lifted its position in Vertex Pharmaceuticals by 232.3% during the 2nd quarter. Macquarie Group Ltd. now owns 933,179 shares of the pharmaceutical company’s stock worth $262,961,000 after acquiring an additional 652,321 shares during the period. Morgan Stanley lifted its position in Vertex Pharmaceuticals by 33.1% during the 4th quarter. Morgan Stanley now owns 2,578,444 shares of the pharmaceutical company’s stock worth $744,603,000 after acquiring an additional 640,899 shares during the period. Man Group plc lifted its position in Vertex Pharmaceuticals by 144.6% during the 4th quarter. Man Group plc now owns 576,398 shares of the pharmaceutical company’s stock worth $166,452,000 after acquiring an additional 340,716 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $104,834,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In related news, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the transaction, the chief operating officer now directly owns 75,718 shares in the company, valued at $31,819,732.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Ourania Tatsis sold 480 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $420.79, for a total value of $201,979.20. Following the sale, the executive vice president now directly owns 59,827 shares in the company, valued at $25,174,603.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the sale, the chief operating officer now owns 75,718 shares in the company, valued at $31,819,732.32. The disclosure for this sale can be found here. Insiders sold 19,029 shares of company stock worth $7,989,227 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded down $11.06 during trading hours on Tuesday, hitting $409.42. 974,495 shares of the stock were exchanged, compared to its average volume of 1,306,938. Vertex Pharmaceuticals Incorporated has a 52-week low of $313.47 and a 52-week high of $448.40. The firm’s fifty day moving average price is $421.74 and its 200 day moving average price is $392.87. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The company has a market cap of $105.76 billion, a P/E ratio of 29.48, a P/E/G ratio of 2.28 and a beta of 0.35.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last posted its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, topping the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business earned $3.33 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research reports. Canaccord Genuity Group reaffirmed a “sell” rating and set a $379.00 price target (up previously from $332.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, January 24th. Truist Financial lifted their price objective on Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Sanford C. Bernstein lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 2nd. Canaccord Genuity Group lowered Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and lifted their price objective for the company from $332.00 to $379.00 in a research note on Wednesday, January 24th. Finally, Barclays lifted their price objective on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $420.48.

View Our Latest Analysis on Vertex Pharmaceuticals

About Vertex Pharmaceuticals

(Free Report)

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.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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