DAVENPORT & Co LLC Buys 103,769 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

DAVENPORT & Co LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 89.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,238 shares of the pharmaceutical company’s stock after purchasing an additional 103,769 shares during the quarter. DAVENPORT & Co LLC owned 0.09% of Vertex Pharmaceuticals worth $89,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. ST Germain D J Co. Inc. bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $26,000. Compass Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $29,000. Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $30,000. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $33,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded down $11.06 on Tuesday, hitting $409.42. 974,495 shares of the stock were exchanged, compared to its average volume of 1,306,938. 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 firm has a market capitalization of $105.76 billion, a PE ratio of 29.48, a P/E/G ratio of 2.28 and a beta of 0.35. Vertex Pharmaceuticals Incorporated has a one year low of $313.47 and a one year high of $448.40. The firm’s 50 day moving average is $421.74 and its two-hundred day moving average is $392.87.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last issued its earnings results 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 business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company earned $3.33 EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Jeffrey M. Leiden sold 6,648 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the completion of the sale, the chairman now owns 2,423 shares in the company, valued at approximately $1,015,406.61. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Jeffrey M. Leiden sold 6,648 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the transaction, the chairman now directly owns 2,423 shares of the company’s stock, valued at approximately $1,015,406.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey M. Leiden sold 2,656 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $419.51, for a total value of $1,114,218.56. Following the completion of the transaction, the chairman now directly owns 27,644 shares in the company, valued at $11,596,934.44. The disclosure for this sale can be found here. Insiders sold a total of 19,029 shares of company stock worth $7,989,227 in the last quarter. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday. Maxim Group downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. HC Wainwright lifted their price target on shares of Vertex Pharmaceuticals from $397.00 to $457.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Wolfe Research initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $420.48.

Get Our Latest Report on VRTX

Vertex Pharmaceuticals Company Profile

(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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