California Public Employees Retirement System Has $322.79 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

California Public Employees Retirement System lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 725,055 shares of the pharmaceutical company’s stock after selling 84,179 shares during the quarter. California Public Employees Retirement System owned 0.28% of Vertex Pharmaceuticals worth $322,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Activest Wealth Management acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares during the period. Access Investment Management LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth $27,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $32,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 0.4%

Shares of VRTX stock opened at $455.48 on Friday. The firm has a 50 day moving average of $422.14 and a 200-day moving average of $425.37. The company has a market cap of $115.56 billion, a price-to-earnings ratio of 32.12 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. Vertex Pharmaceuticals’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.38 EPS. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at $17,202,600. The trade was a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the transaction, the chairman owned 24,026 shares in the company, valued at approximately $10,792,479.20. This represents a 72.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 151,073 shares of company stock worth $67,326,816. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Leerink Partnrs upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Citigroup increased their target price on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Stifel Nicolaus dropped their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Royal Bank Of Canada reduced their price objective on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Finally, Raymond James Financial started coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a “market perform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $498.25.

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.