Natixis Sells 13,865 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Natixis cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 37.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,862 shares of the pharmaceutical company’s stock after selling 13,865 shares during the quarter. Natixis’ holdings in Vertex Pharmaceuticals were worth $9,207,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in VRTX. Norges Bank purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $1,374,948,000. Parnassus Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $731,283,000. Capital World Investors lifted its holdings in shares of Vertex Pharmaceuticals by 5.7% in 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. Capital Research Global Investors boosted its position 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 worth $4,199,713,000 after acquiring an additional 1,426,746 shares during the last quarter. Finally, Edgewood Management LLC grew its stake in Vertex Pharmaceuticals by 91.2% during the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company’s stock valued at $1,190,626,000 after acquiring an additional 1,410,238 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ VRTX opened at $489.10 on Monday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a market cap of $125.60 billion, a PE ratio of -222.32, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. The business has a fifty day simple moving average of $486.76 and a two-hundred day simple moving average of $465.31. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data 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 net margin of 4.86% and a negative return on equity of 2.02%. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on VRTX. HC Wainwright reissued a “buy” rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a report on Thursday, January 30th. Finally, Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $512.41.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at $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. Over the last ninety days, insiders have sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company’s stock.

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.