Reynders McVeigh Capital Management LLC Acquires 3,524 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Reynders McVeigh Capital Management LLC lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,254 shares of the pharmaceutical company’s stock after acquiring an additional 3,524 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $21,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its position in Vertex Pharmaceuticals by 1.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 15,902 shares of the pharmaceutical company’s stock valued at $6,404,000 after acquiring an additional 162 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $925,000. Townsquare Capital LLC grew its holdings in Vertex Pharmaceuticals by 13.8% during the 4th quarter. Townsquare Capital LLC now owns 17,127 shares of the pharmaceutical company’s stock valued at $6,897,000 after purchasing an additional 2,073 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Vertex Pharmaceuticals by 40.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 98,789 shares of the pharmaceutical company’s stock worth $39,784,000 after purchasing an additional 28,240 shares during the period. Finally, FRG Family Wealth Advisors LLC lifted its stake in Vertex Pharmaceuticals by 0.9% in the fourth quarter. FRG Family Wealth Advisors LLC now owns 3,235 shares of the pharmaceutical company’s stock worth $1,303,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on VRTX. Truist Financial upped 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. Piper Sandler reduced their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and lifted their price target for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Finally, Bank of America increased their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $512.41.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $484.22 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The firm has a market capitalization of $124.34 billion, a P/E ratio of -220.10, a P/E/G ratio of 2.11 and a beta of 0.50. The business’s 50-day simple moving average is $484.84 and its 200-day simple moving average is $464.27.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates 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 at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 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 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 in the last three months. Corporate insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

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.