Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Holdings Lowered by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,693 shares of the pharmaceutical company’s stock after selling 109 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $708,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Security National Bank acquired a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $125,000. Dynamic Advisor Solutions LLC lifted its stake in Vertex Pharmaceuticals by 143.5% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,706 shares of the pharmaceutical company’s stock worth $2,385,000 after acquiring an additional 3,363 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter worth approximately $81,000. Capital Advisors Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $728,000. Finally, Strategic Planning Group LLC raised its holdings in shares of Vertex Pharmaceuticals by 4.8% during the first quarter. Strategic Planning Group LLC now owns 3,074 shares of the pharmaceutical company’s stock worth $1,285,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $474.00 on Thursday. The stock has a market capitalization of $122.32 billion, a P/E ratio of 30.76, a P/E/G ratio of 2.43 and a beta of 0.41. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1-year low of $335.82 and a 1-year high of $486.42. The business has a 50-day moving average price of $440.20 and a two-hundred day moving average price of $424.71.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $2.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on VRTX. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target on the stock in a research note on Thursday, April 11th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. BMO Capital Markets increased their price objective on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. HC Wainwright reaffirmed a “buy” rating and issued a $462.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Finally, Argus increased their price objective on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $444.23.

Insider Activity

In related news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the sale, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Edward Morrow Atkinson III sold 7,288 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the completion of the sale, the executive vice president now directly owns 15,972 shares of the company’s stock, valued at approximately $7,634,616. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the sale, the chief marketing officer now owns 32,379 shares in the company, valued at $15,477,162. The disclosure for this sale can be found here. Insiders have sold a total of 26,086 shares of company stock valued at $11,983,266 in the last 90 days. 0.20% of the stock is owned by company insiders.

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.