Summit Global Investments Sells 3,829 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Summit Global Investments trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 39.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,790 shares of the pharmaceutical company’s stock after selling 3,829 shares during the period. Summit Global Investments’ holdings in Vertex Pharmaceuticals were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after purchasing an additional 3,761,414 shares during the last quarter. Capital Research Global Investors raised its holdings in Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after purchasing an additional 2,176,218 shares in the last quarter. Swedbank AB purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at about $277,317,000. AMF Tjanstepension AB bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $257,655,000. Finally, Vanguard Group Inc. grew its position in shares of Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after buying an additional 394,338 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Up 1.8 %

Shares of VRTX stock opened at $502.45 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $510.64. The stock has a 50 day moving average of $474.81 and a 200 day moving average of $466.95. The company has a current ratio of 2.47, a quick ratio of 2.26 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the business posted $3.67 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. HC Wainwright reiterated a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Piper Sandler raised their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, StockNews.com raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $495.96.

Vertex Pharmaceuticals Company 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.