Meeder Asset Management Inc. Cuts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Meeder Asset Management Inc. lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 88.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68 shares of the pharmaceutical company’s stock after selling 523 shares during the period. Meeder Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Aveo Capital Partners LLC boosted its holdings in shares of Vertex Pharmaceuticals by 77.3% during the fourth quarter. Aveo Capital Partners LLC now owns 1,076 shares of the pharmaceutical company’s stock worth $438,000 after purchasing an additional 469 shares during the period. Gryphon Financial Partners LLC grew its position in shares of Vertex Pharmaceuticals by 26.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,978 shares of the pharmaceutical company’s stock worth $805,000 after buying an additional 414 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $322,000. Meridian Wealth Management LLC lifted its stake in Vertex Pharmaceuticals by 4.1% in the fourth quarter. Meridian Wealth Management LLC now owns 794 shares of the pharmaceutical company’s stock worth $323,000 after acquiring an additional 31 shares during the period. Finally, Great Lakes Advisors LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $736,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $485.37 on Monday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $483.72 and its 200-day moving average price is $450.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.85 and a 52-week high of $510.64. The company has a market cap of $125.25 billion, a PE ratio of 31.50 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $3.53 EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,047 shares of company stock valued at $16,843,806. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Truist Financial reiterated a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Oppenheimer upped their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Piper Sandler raised their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $485.91.

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.