Lockheed Martin Investment Management Co. Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Lockheed Martin Investment Management Co. reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,290 shares of the pharmaceutical company’s stock after selling 1,660 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $3,338,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Czech National Bank raised its holdings in shares of Vertex Pharmaceuticals by 6.9% during the third quarter. Czech National Bank now owns 52,578 shares of the pharmaceutical company’s stock valued at $24,453,000 after acquiring an additional 3,404 shares in the last quarter. Miracle Mile Advisors LLC increased its position in Vertex Pharmaceuticals by 14.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 5,816 shares of the pharmaceutical company’s stock valued at $2,705,000 after purchasing an additional 756 shares during the period. Mather Group LLC. boosted its stake in shares of Vertex Pharmaceuticals by 2.0% during the 3rd quarter. Mather Group LLC. now owns 4,015 shares of the pharmaceutical company’s stock valued at $1,867,000 after purchasing an additional 80 shares in the last quarter. Kesler Norman & Wride LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $699,000. Finally, MBM Wealth Consultants LLC boosted its stake in shares of Vertex Pharmaceuticals by 6.7% during the 3rd quarter. MBM Wealth Consultants LLC now owns 2,540 shares of the pharmaceutical company’s stock valued at $1,181,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.5 %

Shares of Vertex Pharmaceuticals stock opened at $482.28 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company’s 50 day moving average is $434.73 and its 200 day moving average is $462.62.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the company posted $3.67 earnings per share. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. Research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on VRTX shares. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Stifel Nicolaus increased their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Finally, Barclays decreased their price target on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $502.58.

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.