Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 543 shares of the pharmaceutical company’s stock after acquiring an additional 50 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Vertex Pharmaceuticals were worth $227,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Vertex Pharmaceuticals by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 22,282,180 shares of the pharmaceutical company’s stock valued at $9,066,396,000 after acquiring an additional 298,824 shares during the period. Capital World Investors increased its position in shares of Vertex Pharmaceuticals by 21.3% in the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after buying an additional 3,824,103 shares in the last quarter. Jennison Associates LLC increased its position in shares of Vertex Pharmaceuticals by 3.9% in the fourth quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock valued at $1,605,146,000 after buying an additional 147,248 shares in the last quarter. Capital Research Global Investors increased its position in shares of Vertex Pharmaceuticals by 5.8% in the fourth quarter. Capital Research Global Investors now owns 3,567,664 shares of the pharmaceutical company’s stock valued at $1,451,647,000 after buying an additional 195,080 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,237,877,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the sale, the chief executive officer now owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the transaction, the chief marketing officer now owns 32,379 shares in the company, valued at approximately $15,477,162. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the completion of the transaction, the chief executive officer now owns 121,374 shares in the company, valued at approximately $55,467,918. The disclosure for this sale can be found here. Insiders have sold 26,086 shares of company stock valued at $11,983,266 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on VRTX. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Canaccord Genuity Group reiterated a “sell” rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. Argus boosted their price target on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Oppenheimer reiterated an “outperform” rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $462.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $443.55.

Vertex Pharmaceuticals Price Performance

VRTX opened at $468.71 on Friday. The stock’s 50-day moving average price is $437.05 and its 200 day moving average price is $422.03. Vertex Pharmaceuticals Incorporated has a 12-month low of $335.82 and a 12-month high of $486.42. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. The firm has a market cap of $120.95 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.42 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the company earned $2.67 EPS. Vertex Pharmaceuticals’s revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

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.