Cyndeo Wealth Partners LLC Invests $600,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cyndeo Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,291 shares of the pharmaceutical company’s stock, valued at approximately $600,000.

Other institutional investors have also recently bought and sold shares of the company. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $31,000. Founders Capital Management lifted its position in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. Finally, ZRC Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $39,000. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,285 shares of company stock worth $7,101,755. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $478.09 on Tuesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The company has a market cap of $123.40 billion, a PE ratio of -235.51 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $475.48 and its two-hundred day simple moving average is $460.75.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.53 earnings per share. Research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRTX. Wells Fargo & Company increased their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Guggenheim increased their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Scotiabank initiated coverage on Vertex Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 price objective for the company. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $492.92.

About Vertex Pharmaceuticals

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.