Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 50.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,200 shares of the pharmaceutical company’s stock after purchasing an additional 14,541 shares during the quarter. Vertex Pharmaceuticals accounts for approximately 1.4% of Cumberland Partners Ltd’s investment portfolio, making the stock its 23rd largest holding. Cumberland Partners Ltd’s holdings in Vertex Pharmaceuticals were worth $20,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VRTX. Capital World Investors lifted its holdings in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after buying an additional 3,761,414 shares during the period. Vanguard Group Inc. lifted its stake 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 valued at $9,479,011,000 after purchasing an additional 394,338 shares during the period. Capital Research Global Investors boosted its holdings in Vertex Pharmaceuticals by 61.0% during 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 buying an additional 2,176,218 shares in the last quarter. Janus Henderson Group PLC grew its position in Vertex Pharmaceuticals by 10.4% during the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock valued at $1,080,296,000 after buying an additional 244,336 shares during the period. Finally, Legal & General Group Plc increased its holdings in Vertex Pharmaceuticals by 1.2% in the second quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock valued at $1,135,556,000 after buying an additional 29,104 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Guggenheim boosted their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Canaccord Genuity Group upped their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Bank of America dropped their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $495.96.

Vertex Pharmaceuticals Trading Down 0.1 %

Shares of NASDAQ:VRTX traded down $0.41 during mid-day trading on Tuesday, reaching $501.31. 89,879 shares of the company were exchanged, compared to its average volume of 1,167,328. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26. The firm’s 50-day simple moving average is $475.52 and its 200 day simple moving average is $469.66. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $519.88. The firm has a market cap of $129.10 billion, a price-to-earnings ratio of -252.12 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.67 EPS. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

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.