Fisher Asset Management LLC Sells 1,083 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fisher Asset Management LLC decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,022 shares of the pharmaceutical company’s stock after selling 1,083 shares during the period. Fisher Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $12,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Groesbeck Investment Management Corp NJ lifted its stake in Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares during the period. Mutual Advisors LLC raised its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares in the last quarter. Institute for Wealth Management LLC. boosted its stake in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after purchasing an additional 22 shares in the last quarter. Drive Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after buying an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC raised its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.5 %

NASDAQ:VRTX opened at $464.56 on Thursday. The company has a market cap of $119.64 billion, a PE ratio of -233.45 and a beta of 0.39. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $473.08 and a two-hundred day simple moving average of $474.28. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $3.67 EPS. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America cut their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Truist Financial reiterated a “buy” rating and issued a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Finally, Piper Sandler boosted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $504.38.

Insider Activity

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,445 shares of company stock valued at $2,218,394 in the last quarter. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals 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.