Strategic Planning Group LLC Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Strategic Planning Group LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,074 shares of the pharmaceutical company’s stock after purchasing an additional 142 shares during the quarter. Strategic Planning Group LLC’s holdings in Vertex Pharmaceuticals were worth $1,285,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at about $137,975,000. AdvisorNet Financial Inc lifted its holdings in shares of Vertex Pharmaceuticals by 4.7% in the 1st quarter. AdvisorNet Financial Inc now owns 1,186 shares of the pharmaceutical company’s stock valued at $496,000 after buying an additional 53 shares during the period. Anderson Hoagland & Co. lifted its holdings in shares of Vertex Pharmaceuticals by 27.0% in the 1st quarter. Anderson Hoagland & Co. now owns 21,173 shares of the pharmaceutical company’s stock valued at $8,418,000 after buying an additional 4,499 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Vertex Pharmaceuticals by 6.8% in the 1st quarter. Ballentine Partners LLC now owns 4,878 shares of the pharmaceutical company’s stock valued at $2,039,000 after buying an additional 309 shares during the period. Finally, RDA Financial Network lifted its holdings in shares of Vertex Pharmaceuticals by 33.2% in the 1st quarter. RDA Financial Network now owns 2,282 shares of the pharmaceutical company’s stock valued at $954,000 after buying an additional 569 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $479.40 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. The business has a 50 day simple moving average of $438.61 and a 200-day simple moving average of $423.84. The firm has a market capitalization of $123.71 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 2.39 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1 year low of $335.82 and a 1 year high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.67 earnings per share. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was 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 directly owns 121,374 shares in the company, valued at $55,467,918. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the transaction, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles F. Wagner, Jr. sold 3,250 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $454.79, for a total value of $1,478,067.50. Following the transaction, the chief financial officer now owns 50,387 shares in the company, valued at $22,915,503.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,086 shares of company stock worth $11,983,266. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price objective for the company in a report on Thursday, April 11th. BMO Capital Markets boosted their price objective on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Royal Bank of Canada decreased their price objective on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a report on Tuesday, June 11th. Canaccord Genuity Group reissued a “sell” rating and issued a $371.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. Finally, Argus upped their price target on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $444.23.

Vertex Pharmaceuticals Company 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.