Tweedy Browne Co LLC Sells 65 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tweedy Browne Co LLC lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,699 shares of the pharmaceutical company’s stock after selling 65 shares during the period. Vertex Pharmaceuticals accounts for 1.3% of Tweedy Browne Co LLC’s holdings, making the stock its 15th biggest holding. Tweedy Browne Co LLC’s holdings in Vertex Pharmaceuticals were worth $27,881,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Capital World Investors boosted its position in shares of Vertex Pharmaceuticals by 21.3% during the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock worth $8,872,586,000 after purchasing an additional 3,824,103 shares in the last quarter. Norges Bank acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,237,877,000. Jennison Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 21.2% during the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after acquiring an additional 837,461 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Vertex Pharmaceuticals by 2,272.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company’s stock valued at $176,946,000 after acquiring an additional 416,545 shares in the last quarter. Finally, abrdn plc raised its position in shares of Vertex Pharmaceuticals by 196.0% during the fourth quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock worth $236,410,000 after purchasing an additional 384,730 shares during the period. 90.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on VRTX shares. Canaccord Genuity Group restated a “sell” rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Guggenheim upped their target price on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company lifted their price target on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Royal Bank of Canada lowered their price objective on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $462.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $452.57.

Vertex Pharmaceuticals Stock Performance

VRTX traded down $3.17 during trading hours on Friday, hitting $488.96. The stock had a trading volume of 273,643 shares, compared to its average volume of 1,211,515. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $496.62. The company’s fifty day simple moving average is $459.28 and its 200 day simple moving average is $431.15. The stock has a market cap of $126.18 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 2.55 and a beta of 0.39. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.67 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.08 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the completion of the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the sale, the chief executive officer now owns 121,374 shares of the company’s stock, valued at $55,467,918. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the sale, the executive vice president now owns 15,972 shares of the company’s stock, valued at $7,634,616. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,366 shares of company stock valued at $13,058,787. Corporate insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

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.