Flputnam Investment Management Co. Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Flputnam Investment Management Co. lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 238.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,443 shares of the pharmaceutical company’s stock after purchasing an additional 22,141 shares during the quarter. Flputnam Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $12,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at about $33,000. Truvestments Capital LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 530 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the sale, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. This represents a 0.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,084 shares of company stock valued at $505,512 in the last quarter. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $479.79 on Friday. The company has a 50 day simple moving average of $440.39 and a two-hundred day simple moving average of $461.10. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a market capitalization of $123.21 billion, a price-to-earnings ratio of -218.09, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VRTX. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Piper Sandler cut their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Royal Bank of Canada upped their price target on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

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.