American International Group Inc. Sells 224 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

American International Group Inc. lowered its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 0.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 97,513 shares of the pharmaceutical company’s stock after selling 224 shares during the period. American International Group Inc.’s holdings in Vertex Pharmaceuticals were worth $39,677,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fiera Capital Corp boosted its position in Vertex Pharmaceuticals by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 10,857 shares of the pharmaceutical company’s stock valued at $3,775,000 after buying an additional 281 shares during the period. Manchester Capital Management LLC lifted its position in shares of Vertex Pharmaceuticals by 230.5% in the 3rd quarter. Manchester Capital Management LLC now owns 195 shares of the pharmaceutical company’s stock worth $68,000 after purchasing an additional 136 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 2.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 74,265 shares of the pharmaceutical company’s stock worth $25,825,000 after purchasing an additional 1,573 shares during the period. Aviva PLC lifted its position in shares of Vertex Pharmaceuticals by 8.7% in the 3rd quarter. Aviva PLC now owns 109,626 shares of the pharmaceutical company’s stock worth $38,121,000 after purchasing an additional 8,816 shares during the period. Finally, Kestra Advisory Services LLC lifted its position in shares of Vertex Pharmaceuticals by 3.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 15,771 shares of the pharmaceutical company’s stock worth $5,484,000 after purchasing an additional 464 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.4 %

Shares of NASDAQ VRTX traded up $1.70 during mid-day trading on Friday, reaching $480.73. The company had a trading volume of 641,768 shares, compared to its average volume of 1,164,252. The business’s 50-day moving average is $430.15 and its 200-day moving average is $418.40. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. The stock has a market cap of $124.05 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.47 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52 week low of $335.82 and a 52 week high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm earned $2.67 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Canaccord Genuity Group restated a “sell” rating and set a $371.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Oppenheimer restated an “outperform” rating and set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Guggenheim raised their price objective on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Piper Sandler raised their price objective on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, six have issued 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.48.

Get Our Latest Stock Analysis on VRTX

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now owns 121,374 shares in the company, valued at approximately $55,467,918. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the sale, the chief executive officer now owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $17,920,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,086 shares of company stock valued at $11,983,266. 0.20% of the stock is currently owned by insiders.

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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