Foster Dykema Cabot & Partners LLC Has $24.51 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Foster Dykema Cabot & Partners LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 60,864 shares of the pharmaceutical company’s stock after acquiring an additional 1,094 shares during the quarter. Vertex Pharmaceuticals makes up 1.9% of Foster Dykema Cabot & Partners LLC’s portfolio, making the stock its 19th biggest position. Foster Dykema Cabot & Partners LLC’s holdings in Vertex Pharmaceuticals were worth $24,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $30,000. Sugar Maple Asset Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter worth $35,000. Golden State Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth about $37,000. Truvestments Capital LLC raised its stake in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after purchasing an additional 23 shares during the period. Finally, ORG Partners LLC lifted its holdings in shares of Vertex Pharmaceuticals by 108.2% in the fourth quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company’s stock valued at $41,000 after purchasing an additional 53 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 2.9 %

Shares of VRTX opened at $485.89 on Thursday. The firm has a market cap of $124.77 billion, a P/E ratio of -220.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. 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 Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The firm’s 50-day simple moving average is $485.70 and its 200 day simple moving average is $464.91.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate 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%. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. StockNews.com raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $512.41.

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.