ZRC Wealth Management LLC Buys Shares of 94 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

ZRC Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 94 shares of the pharmaceutical company’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Vertex Pharmaceuticals by 1.4% during 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 purchasing an additional 298,824 shares during the period. Capital World Investors grew its holdings in shares of Vertex Pharmaceuticals by 21.3% in the 4th 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 during the period. Jennison Associates LLC raised its stake in Vertex Pharmaceuticals by 3.9% during the 4th quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock worth $1,605,146,000 after buying an additional 147,248 shares during the period. Capital Research Global Investors raised its stake in Vertex Pharmaceuticals by 5.8% during the 4th quarter. Capital Research Global Investors now owns 3,567,664 shares of the pharmaceutical company’s stock worth $1,451,647,000 after buying an additional 195,080 shares during the period. Finally, Norges Bank bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $1,237,877,000. 90.96% of the stock is owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on 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 directly owns 32,379 shares of the company’s stock, valued at approximately $15,477,162. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Carmen Bozic sold 2,280 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 $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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,366 shares of company stock valued at $13,058,787. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Down 0.7 %

Shares of Vertex Pharmaceuticals stock opened at $470.28 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $335.82 and a 1 year high of $486.42. The company has a market capitalization of $121.36 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.44 and a beta of 0.39. The business has a fifty day simple moving average of $450.53 and a two-hundred day simple moving average of $428.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping the consensus estimate of $3.66 by $1.10. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. Vertex Pharmaceuticals’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.67 EPS. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VRTX shares. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Argus upped their target price on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. UBS Group dropped their price target on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company increased their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $448.61.

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.