Stenger Family Office LLC Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Stenger Family Office LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,721 shares of the pharmaceutical company’s stock, valued at approximately $4,505,000. Vertex Pharmaceuticals accounts for 0.8% of Stenger Family Office LLC’s investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of VRTX. Vanguard Group Inc. lifted its holdings in Vertex Pharmaceuticals by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock worth $10,673,126,000 after buying an additional 482,616 shares during the period. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 21.5% during the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after acquiring an additional 1,089,063 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Vertex Pharmaceuticals by 2.9% during the second quarter. Geode Capital Management LLC now owns 5,928,747 shares of the pharmaceutical company’s stock worth $2,627,135,000 after acquiring an additional 166,987 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Vertex Pharmaceuticals by 10.7% in the second quarter. Alliancebernstein L.P. now owns 4,378,320 shares of the pharmaceutical company’s stock worth $1,949,228,000 after acquiring an additional 424,808 shares during the period. Finally, Loomis Sayles & Co. L P boosted its holdings in Vertex Pharmaceuticals by 1.7% in the second quarter. Loomis Sayles & Co. L P now owns 3,813,378 shares of the pharmaceutical company’s stock valued at $1,697,716,000 after acquiring an additional 65,047 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.6%

VRTX opened at $441.36 on Friday. The company has a fifty day moving average price of $446.59 and a two-hundred day moving average price of $427.29. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68. The company has a market cap of $111.98 billion, a P/E ratio of 31.13 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the prior year, the firm earned $4.38 EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the subject of several analyst reports. Citigroup raised their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Wells Fargo & Company increased their price objective on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Royal Bank Of Canada dropped their target price on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Morgan Stanley set a $564.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, December 5th. Finally, Scotiabank began coverage on Vertex Pharmaceuticals in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $503.80.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. This trade represents a 72.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the transaction, the executive vice president owned 42,293 shares in the company, valued at approximately $20,088,752.07. The trade was a 9.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 165,105 shares of company stock worth $73,858,523 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Company 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.