Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Lowered by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,483 shares of the pharmaceutical company’s stock after selling 42 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Vertex Pharmaceuticals were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Norges Bank acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $588,506,000. Wellington Management Group LLP grew its stake in shares of Vertex Pharmaceuticals by 23.6% in the 1st quarter. Wellington Management Group LLP now owns 8,053,710 shares of the pharmaceutical company’s stock worth $2,101,776,000 after purchasing an additional 1,535,255 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Vertex Pharmaceuticals by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 10,443,771 shares of the pharmaceutical company’s stock worth $2,293,452,000 after acquiring an additional 1,374,923 shares in the last quarter. Capital World Investors increased its position in shares of Vertex Pharmaceuticals by 9.9% in the first quarter. Capital World Investors now owns 12,666,130 shares of the pharmaceutical company’s stock worth $3,305,417,000 after acquiring an additional 1,145,275 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth approximately $167,910,000. 91.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several analyst reports. Cowen lifted their target price on shares of Vertex Pharmaceuticals from $305.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, June 13th. HC Wainwright lifted their target price on shares of Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Cowen lifted their target price on shares of Vertex Pharmaceuticals from $305.00 to $310.00 in a research report on Monday, June 13th. Barclays lifted their target price on shares of Vertex Pharmaceuticals from $291.00 to $307.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $250.00 to $253.00 and gave the company an “equal weight” rating in a research report on Monday, August 8th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $291.65.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $286.94 on Wednesday. The firm has a fifty day simple moving average of $287.43 and a 200-day simple moving average of $272.95. The company has a current ratio of 4.50, a quick ratio of 4.36 and a debt-to-equity ratio of 0.04. Vertex Pharmaceuticals Incorporated has a 1-year low of $176.36 and a 1-year high of $305.95. The stock has a market capitalization of $73.59 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 2.07 and a beta of 0.45.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The pharmaceutical company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.48. Vertex Pharmaceuticals had a net margin of 38.26% and a return on equity of 31.22%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company earned $2.80 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 12.56 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 11,689 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $305.06, for a total transaction of $3,565,846.34. Following the completion of the transaction, the chief executive officer now directly owns 99,598 shares in the company, valued at approximately $30,383,365.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Sangeeta N. Bhatia sold 621 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $278.77, for a total transaction of $173,116.17. Following the completion of the transaction, the director now directly owns 5,282 shares in the company, valued at approximately $1,472,463.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Reshma Kewalramani sold 11,689 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $305.06, for a total transaction of $3,565,846.34. Following the completion of the sale, the chief executive officer now directly owns 99,598 shares in the company, valued at approximately $30,383,365.88. The disclosure for this sale can be found here. Insiders sold a total of 208,520 shares of company stock worth $59,937,985 in the last ninety days. 0.40% of the stock is currently owned by insiders.

About Vertex Pharmaceuticals

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Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

Further Reading

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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