Wedmont Private Capital Acquires 722 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wedmont Private Capital raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.9% during the first quarter, HoldingsChannel reports. The fund owned 4,355 shares of the pharmaceutical company’s stock after purchasing an additional 722 shares during the quarter. Wedmont Private Capital’s holdings in Vertex Pharmaceuticals were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VRTX. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $31,000. Golden State Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. Truvestments Capital LLC grew its stake in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after acquiring an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In related news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $450.50 on Friday. The company has a market capitalization of $115.69 billion, a P/E ratio of -204.77, a PEG ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a 50 day moving average price of $465.01 and a two-hundred day moving average price of $460.33.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $4.76 earnings per share. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on VRTX. Truist Financial boosted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Cantor Fitzgerald restated an “overweight” rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Scotiabank dropped their price target on Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $515.04.

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.