Fisher Asset Management LLC Has $11.47 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Fisher Asset Management LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,755 shares of the pharmaceutical company’s stock after selling 4,914 shares during the period. Fisher Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $11,466,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VRTX. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals in the 1st quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 45 shares during the last quarter. Access Investment Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $29,000. Finally, Flaharty Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $463.13 on Thursday. The stock’s 50-day moving average is $419.23 and its 200 day moving average is $425.20. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The firm has a market cap of $117.50 billion, a price-to-earnings ratio of 32.66 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.38 earnings per share. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group decreased their price target on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Leerink Partnrs upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Stifel Nicolaus cut their target price on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price target on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $495.85.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 53,604 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the completion of the sale, the chairman directly owned 24,026 shares in the company, valued at approximately $10,588,738.72. This trade represents a 69.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.