Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Segment Wealth Management LLC

Segment Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,715 shares of the pharmaceutical company’s stock after acquiring an additional 1,210 shares during the period. Segment Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRTX. RFG Advisory LLC increased its holdings in Vertex Pharmaceuticals by 30.5% during the 1st quarter. RFG Advisory LLC now owns 1,415 shares of the pharmaceutical company’s stock worth $591,000 after purchasing an additional 331 shares during the period. AdvisorNet Financial Inc raised its holdings in Vertex Pharmaceuticals by 4.7% in the first quarter. AdvisorNet Financial Inc now owns 1,186 shares of the pharmaceutical company’s stock valued at $496,000 after acquiring an additional 53 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Vertex Pharmaceuticals by 143.5% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,706 shares of the pharmaceutical company’s stock worth $2,385,000 after acquiring an additional 3,363 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Vertex Pharmaceuticals by 47.2% during the 1st quarter. Sunbelt Securities Inc. now owns 1,749 shares of the pharmaceutical company’s stock worth $731,000 after acquiring an additional 561 shares in the last quarter. Finally, Brookstone Capital Management raised its holdings in shares of Vertex Pharmaceuticals by 11.1% in the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after purchasing an additional 237 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $474.91 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The company has a market cap of $122.55 billion, a price-to-earnings ratio of 30.82 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. The firm has a 50 day moving average price of $475.63 and a 200 day moving average price of $461.23.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the company earned $3.53 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,005 shares of company stock worth $5,988,066 in the last three months. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. UBS Group raised their target price on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Scotiabank initiated coverage on Vertex Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price target for the company. Truist Financial reissued a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $492.92.

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.