Capital World Investors Has $11.57 Billion Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Capital World Investors decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,510,182 shares of the pharmaceutical company’s stock after selling 400,405 shares during the period. Vertex Pharmaceuticals comprises approximately 1.6% of Capital World Investors’ holdings, making the stock its 10th largest position. Capital World Investors owned about 0.10% of Vertex Pharmaceuticals worth $11,565,309,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Colonial Trust Co SC grew its position in shares of Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $29,000. IMG Wealth Management Inc. grew its position in shares of Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 50 shares during the period. Ares Financial Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $33,000. Finally, Archer Investment Corp lifted its stake in shares of Vertex Pharmaceuticals by 89.7% during the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 35 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.2%

Shares of NASDAQ VRTX opened at $446.83 on Friday. The firm’s 50-day moving average price is $437.33 and its 200-day moving average price is $451.81. The stock has a market capitalization of $113.41 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 1.91 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.06 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRTX. Cantor Fitzgerald restated an “overweight” rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Stifel Nicolaus lifted their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Scotiabank lifted their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Barclays lifted their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Oppenheimer lifted their target price on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $555.91.

Insider Activity

In other news, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the sale, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. This represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,717 shares of company stock worth $5,309,945. 0.20% of the stock is currently owned by corporate insiders.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.