Capital International Sarl Reduces Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Capital International Sarl decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,438 shares of the pharmaceutical company’s stock after selling 32,296 shares during the period. Vertex Pharmaceuticals comprises approximately 1.4% of Capital International Sarl’s holdings, making the stock its 15th biggest holding. Capital International Sarl’s holdings in Vertex Pharmaceuticals were worth $87,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Vertex Pharmaceuticals by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock worth $9,484,293,000 after buying an additional 243,088 shares during the period. Capital Research Global Investors increased its stake in Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock worth $6,482,978,000 after buying an additional 444,990 shares during the period. Capital International Investors increased its stake in Vertex Pharmaceuticals by 0.9% during the 4th quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock worth $2,146,041,000 after buying an additional 44,537 shares during the period. Alliancebernstein L.P. increased its stake in Vertex Pharmaceuticals by 3.3% during the 3rd quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company’s stock worth $1,771,226,000 after buying an additional 144,266 shares during the period. Finally, Norges Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth $1,440,149,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In other news, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the transaction, the chief marketing officer directly owned 26,088 shares of the company’s stock, valued at approximately $11,739,600. The trade was a 21.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals 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 completion of the transaction, the director directly owned 4,924 shares of the company’s stock, valued at $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,717 shares of company stock valued at $5,309,945. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $446.83 on Friday. The firm has a market cap of $113.41 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.91 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92. The firm has a fifty day moving average of $437.33 and a two-hundred day moving average of $451.81.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on VRTX shares. Truist Financial started coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, May 27th. They set a “buy” rating and a $542.00 price objective for the company. Scotiabank raised their price objective on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Royal Bank Of Canada raised their price objective on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Bank of America raised their price objective on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, Citigroup raised their price objective on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $555.91.

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.