McAdam LLC Has $813,000 Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

McAdam LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,997 shares of the pharmaceutical company’s stock after selling 170 shares during the period. McAdam LLC’s holdings in Vertex Pharmaceuticals were worth $813,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 21,983,356 shares of the pharmaceutical company’s stock worth $7,644,492,000 after buying an additional 87,397 shares in the last quarter. Jennison Associates LLC lifted its holdings in Vertex Pharmaceuticals by 3.9% during the fourth quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock worth $1,605,146,000 after acquiring an additional 147,248 shares during the period. Morgan Stanley boosted its position in Vertex Pharmaceuticals by 3.2% in the third quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock worth $998,050,000 after purchasing an additional 89,217 shares during the last quarter. Northern Trust Corp grew its stake in Vertex Pharmaceuticals by 4.9% in the 3rd quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock valued at $978,388,000 after purchasing an additional 131,539 shares during the period. Finally, Invesco Ltd. increased its position in shares of Vertex Pharmaceuticals by 3.5% during the 3rd quarter. Invesco Ltd. now owns 2,016,780 shares of the pharmaceutical company’s stock valued at $701,315,000 after purchasing an additional 67,451 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $440.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Maxim Group downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Barclays boosted their target price on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada boosted their price objective on Vertex Pharmaceuticals from $397.00 to $420.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $429.45.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 2,656 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $419.51, for a total transaction of $1,114,218.56. Following the transaction, the chairman now directly owns 27,644 shares in the company, valued at approximately $11,596,934.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Jeffrey M. Leiden sold 2,656 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $419.51, for a total value of $1,114,218.56. Following the transaction, the chairman now owns 27,644 shares in the company, valued at approximately $11,596,934.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stuart A. Arbuckle sold 4,295 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the sale, the chief operating officer now owns 75,718 shares of the company’s stock, valued at $31,819,732.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,381 shares of company stock worth $5,203,249. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $396.20 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $320.01 and a 12-month high of $448.40. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The company has a market cap of $102.40 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 1.87 and a beta of 0.35. The stock has a 50-day moving average price of $411.08 and a 200-day moving average price of $399.37.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.85 by $0.35. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. During the same period in the previous year, the business posted $3.33 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company 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.