Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by HealthInvest Partners AB

HealthInvest Partners AB raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,993 shares of the pharmaceutical company’s stock after buying an additional 1,898 shares during the period. Vertex Pharmaceuticals accounts for about 3.7% of HealthInvest Partners AB’s portfolio, making the stock its 10th largest holding. HealthInvest Partners AB’s holdings in Vertex Pharmaceuticals were worth $7,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter worth about $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management grew its position in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,445 shares of company stock valued at $2,218,394. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.6 %

NASDAQ VRTX traded down $2.71 during trading hours on Thursday, hitting $448.52. The company’s stock had a trading volume of 83,717 shares, compared to its average volume of 1,180,985. The company’s 50-day simple moving average is $475.38 and its two-hundred day simple moving average is $472.74. Vertex Pharmaceuticals Incorporated has a 52 week low of $346.29 and a 52 week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the firm earned $3.67 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the subject of several analyst reports. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Guggenheim lifted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Finally, Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $499.12.

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.