Geode Capital Management LLC Buys 207,934 Shares of Vertex Pharmaceuticals Incorporated (VRTX)

Geode Capital Management LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.3% in the fourth quarter, Holdings Channel reports. The fund owned 3,059,306 shares of the pharmaceutical company’s stock after purchasing an additional 207,934 shares during the period. Geode Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $505,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resources Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $27,000. We Are One Seven LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $32,000. Berman Capital Advisors LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $35,000. Quantamental Technologies LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $41,000. Finally, JOYN Advisors Inc. increased its holdings in Vertex Pharmaceuticals by 66.7% during the 4th quarter. JOYN Advisors Inc. now owns 260 shares of the pharmaceutical company’s stock valued at $43,000 after purchasing an additional 104 shares during the period. 94.92% of the stock is owned by institutional investors.

VRTX stock opened at $168.73 on Monday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $144.07 and a fifty-two week high of $195.81. The company has a current ratio of 3.78, a quick ratio of 3.66 and a debt-to-equity ratio of 0.13. The company has a market cap of $43.22 billion, a price-to-earnings ratio of 59.62, a PEG ratio of 2.45 and a beta of 1.56.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Tuesday, April 30th. The pharmaceutical company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.49. Vertex Pharmaceuticals had a return on equity of 22.63% and a net margin of 66.01%. The firm had revenue of $857.00 million for the quarter, compared to the consensus estimate of $853.00 million. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was up 34.3% on a year-over-year basis. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 3.06 EPS for the current year.

A number of research analysts recently issued reports on VRTX shares. BidaskClub upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 16th. Cowen restated a “buy” rating and set a $220.00 price target on shares of Vertex Pharmaceuticals in a report on Wednesday, March 6th. JPMorgan Chase & Co. restated a “buy” rating and set a $209.00 price target on shares of Vertex Pharmaceuticals in a report on Wednesday, May 1st. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Vertex Pharmaceuticals in a report on Wednesday, May 1st. Finally, ValuEngine upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. Vertex Pharmaceuticals presently has an average rating of “Buy” and an average price target of $203.35.

In related news, EVP David Altshuler sold 5,624 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $187.00, for a total value of $1,051,688.00. Following the sale, the executive vice president now owns 32,604 shares in the company, valued at approximately $6,096,948. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey M. Leiden sold 33,058 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $175.01, for a total value of $5,785,480.58. Following the completion of the sale, the chief executive officer now owns 136,953 shares in the company, valued at approximately $23,968,144.53. The disclosure for this sale can be found here. Insiders have sold a total of 82,168 shares of company stock worth $14,779,781 in the last quarter. Company insiders own 0.70% of the company’s stock.

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Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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