27,600 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Shelter Mutual Insurance Co

Shelter Mutual Insurance Co acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 27,600 shares of the pharmaceutical company’s stock, valued at approximately $13,710,000. Vertex Pharmaceuticals comprises about 2.9% of Shelter Mutual Insurance Co’s investment portfolio, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Community Financial Services Group LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $26,000. Meeder Asset Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $26,000. Motiv8 Investments LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $26,000. Elevation Wealth Partners LLC boosted its position in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 28 shares during the period. Finally, Swiss RE Ltd. bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 1.4%

Shares of NASDAQ VRTX opened at $548.05 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $555.32. The firm has a 50-day moving average of $492.65 and a two-hundred day moving average of $465.92. The company has a market capitalization of $139.10 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 2.24 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the firm earned $4.52 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on VRTX shares. Weiss Ratings upgraded Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Stifel Nicolaus set a $500.00 price target on Vertex Pharmaceuticals in a research note on Tuesday, August 4th. Royal Bank Of Canada raised their price target on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. TD Cowen lifted their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $563.50.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 4,062 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $450.00, for a total value of $1,827,900.00. Following the transaction, the chief marketing officer owned 16,953 shares of the company’s stock, valued at approximately $7,628,850. This represents a 19.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the sale, the executive vice president owned 45,321 shares of the company’s stock, valued at $23,793,071.79. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 10,464 shares of company stock valued at $4,959,397. Corporate insiders own 0.20% of the company’s stock.

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.