Summit Global Investments Sells 813 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Summit Global Investments decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,977 shares of the pharmaceutical company’s stock after selling 813 shares during the quarter. Summit Global Investments’ holdings in Vertex Pharmaceuticals were worth $2,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MRP Capital Investments LLC grew its position in shares of Vertex Pharmaceuticals by 5.1% during the 4th quarter. MRP Capital Investments LLC now owns 3,920 shares of the pharmaceutical company’s stock worth $1,579,000 after buying an additional 190 shares in the last quarter. Holderness Investments Co. grew its position in shares of Vertex Pharmaceuticals by 5.6% during the 4th quarter. Holderness Investments Co. now owns 1,316 shares of the pharmaceutical company’s stock worth $530,000 after buying an additional 70 shares in the last quarter. Whittier Trust Co. grew its position in shares of Vertex Pharmaceuticals by 33.4% during the 4th quarter. Whittier Trust Co. now owns 2,045 shares of the pharmaceutical company’s stock worth $824,000 after buying an additional 512 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in Vertex Pharmaceuticals by 4.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 27,822 shares of the pharmaceutical company’s stock valued at $11,204,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $696,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.4 %

Shares of NASDAQ:VRTX opened at $503.20 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The stock has a market cap of $129.22 billion, a price-to-earnings ratio of -228.73, a PEG ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $467.89 and a 200-day moving average price of $462.60.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 244 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated 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 directly owns 26,512 shares in the company, valued at approximately $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. Insiders have sold a total of 4,315 shares of company stock valued at $2,121,012 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VRTX. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research report on Friday, January 31st. Truist Financial raised their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a research report on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $506.70.

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.