Fisher Asset Management LLC Purchases 108 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fisher Asset Management LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,454 shares of the pharmaceutical company’s stock after acquiring an additional 108 shares during the period. Fisher Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $10,764,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. abrdn plc lifted its holdings in shares of Vertex Pharmaceuticals by 196.0% during the fourth quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock valued at $236,410,000 after purchasing an additional 384,730 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $81,378,000. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 3.9% during the 4th quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock worth $1,605,146,000 after acquiring an additional 147,248 shares during the last quarter. Northern Trust Corp raised its holdings in Vertex Pharmaceuticals by 4.9% in the 3rd quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock worth $978,388,000 after purchasing an additional 131,539 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Vertex Pharmaceuticals by 21,750.1% during the fourth quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock valued at $46,853,000 after purchasing an additional 114,623 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $402.50 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. The company has a 50-day moving average of $408.44 and a 200-day moving average of $400.41. Vertex Pharmaceuticals Incorporated has a 1-year low of $320.01 and a 1-year high of $448.40. The company has a market capitalization of $104.03 billion, a P/E ratio of 28.98, a PEG ratio of 1.89 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.61 by $1.15. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business earned $2.67 earnings per share. Vertex Pharmaceuticals’s revenue was up 13.3% compared to the same quarter last year. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

Insider Activity

In other news, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the sale, the executive vice president now directly owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now owns 74,364 shares in the company, valued at approximately $31,250,727.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ourania Tatsis sold 354 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,381 shares of company stock worth $5,203,249. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Robert W. Baird downgraded shares of Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price target on the stock. in a report on Wednesday, January 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $440.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. Barclays raised their price target on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. UBS Group dropped their price objective on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, Maxim Group downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $430.86.

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.