Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Cut by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 62.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,202 shares of the pharmaceutical company’s stock after selling 74,236 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Vertex Pharmaceuticals were worth $18,203,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Capital World Investors grew its position in Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares during the last quarter. Vanguard Group Inc. grew its holdings in Vertex Pharmaceuticals by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock worth $9,366,113,000 after buying an additional 98,654 shares in the last quarter. Capital Research Global Investors increased its position in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock valued at $4,199,713,000 after acquiring an additional 1,426,746 shares during the period. Wellington Management Group LLP raised its stake in Vertex Pharmaceuticals by 23.3% during the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after acquiring an additional 1,117,214 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Vertex Pharmaceuticals by 23.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock worth $1,519,302,000 after acquiring an additional 704,575 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $501.15 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. The company has a market cap of $128.84 billion, a P/E ratio of -227.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm’s 50 day simple moving average is $492.00 and its 200-day simple moving average is $467.15.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) 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%. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,315 shares of company stock valued at $2,121,012. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent analyst reports. Piper Sandler cut their price objective 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. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research report on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Truist Financial boosted their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Bank of America increased their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Ten analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $514.91.

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.