Davidson Investment Advisors Grows Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Davidson Investment Advisors boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 64,227 shares of the pharmaceutical company’s stock after purchasing an additional 1,806 shares during the period. Vertex Pharmaceuticals comprises 1.2% of Davidson Investment Advisors’ investment portfolio, making the stock its 20th biggest position. Davidson Investment Advisors’ holdings in Vertex Pharmaceuticals were worth $29,118,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Earned Wealth Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 3.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after buying an additional 21 shares during the last quarter. Childress Capital Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after acquiring an additional 22 shares in the last quarter. Central Pacific Bank Trust Division increased its position in shares of Vertex Pharmaceuticals by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock valued at $2,279,000 after acquiring an additional 24 shares during the last quarter. JFS Wealth Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 28.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock valued at $52,000 after acquiring an additional 25 shares during the last quarter. Finally, PFG Investments LLC lifted its holdings in Vertex Pharmaceuticals by 1.2% during the fourth quarter. PFG Investments LLC now owns 2,143 shares of the pharmaceutical company’s stock worth $972,000 after acquiring an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group boosted their price objective on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Canaccord Genuity Group boosted their price objective on Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a “hold” rating in a research report on Tuesday, February 17th. Citigroup boosted their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Jefferies Financial Group assumed coverage on Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price objective on the stock. Finally, Bank of America boosted their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $555.00.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $441.20 on Monday. The stock’s fifty day simple moving average is $461.32 and its two-hundred day simple moving average is $448.09. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $510.77. The stock has a market cap of $112.22 billion, a P/E ratio of 28.78, a P/E/G ratio of 1.95 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 earnings per share. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Jonathan Biller sold 945 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $459,600.75. Following the sale, the executive vice president directly owned 13,659 shares in the company, valued at $6,643,054.65. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Duncan Mckechnie sold 4,910 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the completion of the sale, the executive vice president owned 17,559 shares in the company, valued at approximately $8,562,646.35. The trade was a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 80,431 shares of company stock valued at $37,875,167. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.