Gradient Investments LLC Boosts Position in Vertex Pharmaceuticals Incorporated $VRTX

Gradient Investments LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,977 shares of the pharmaceutical company’s stock after buying an additional 2,964 shares during the period. Gradient Investments LLC’s holdings in Vertex Pharmaceuticals were worth $16,048,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in VRTX. New England Research & Management Inc. boosted its position in Vertex Pharmaceuticals by 44.8% during the 3rd quarter. New England Research & Management Inc. now owns 1,535 shares of the pharmaceutical company’s stock worth $601,000 after purchasing an additional 475 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of Vertex Pharmaceuticals by 37.9% during the third quarter. Venture Visionary Partners LLC now owns 957 shares of the pharmaceutical company’s stock worth $375,000 after purchasing an additional 263 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 21.8% in the third quarter. Aaron Wealth Advisors LLC now owns 3,922 shares of the pharmaceutical company’s stock worth $1,536,000 after buying an additional 703 shares during the period. Shorepoint Capital Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $4,075,000. Finally, Reynders McVeigh Capital Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 1.8% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 54,310 shares of the pharmaceutical company’s stock valued at $24,179,000 after buying an additional 974 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

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

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $454.96 on Wednesday. The firm has a fifty day moving average of $428.46 and a two-hundred day moving average of $425.62. The firm has a market cap of $115.43 billion, a P/E ratio of 32.08 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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 business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.38 EPS. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

VRTX has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Evercore ISI reduced their target price on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. UBS Group upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada decreased their price objective on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $498.42.

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.