Stenger Family Office LLC Trims Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Stenger Family Office LLC reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 31.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,323 shares of the pharmaceutical company’s stock after selling 3,398 shares during the quarter. Stenger Family Office LLC’s holdings in Vertex Pharmaceuticals were worth $3,320,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Motiv8 Investments LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth $26,000. Swiss RE Ltd. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at $29,000. IMG Wealth Management Inc. grew its holdings in shares of Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Finally, Colonial Trust Co SC grew its holdings in shares of Vertex Pharmaceuticals by 118.8% in the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director owned 4,924 shares of the company’s stock, valued at $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the transaction, the chief marketing officer owned 26,088 shares in the company, valued at $11,739,600. This trade represents a 21.13% 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. In the last three months, insiders have sold 15,195 shares of company stock worth $6,801,006. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research analyst reports. Truist Financial assumed coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, May 27th. They set a “buy” rating and a $542.00 price objective for the company. Bank of America upped their target price on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target for the company in a report on Wednesday, March 18th. Finally, Citigroup increased their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $555.91.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $451.63 on Friday. The firm has a market cap of $114.62 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.93 and a beta of 0.30. The company’s 50 day moving average is $438.71 and its 200 day moving average is $453.13. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.06 earnings per share. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.