McGuire Investment Group LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 4.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,467 shares of the pharmaceutical company’s stock after selling 321 shares during the period. McGuire Investment Group LLC’s holdings in Vertex Pharmaceuticals were worth $1,822,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sittner & Nelson LLC boosted its stake in shares of Vertex Pharmaceuticals by 66.7% in the first quarter. Sittner & Nelson LLC now owns 125 shares of the pharmaceutical company’s stock valued at $33,000 after purchasing an additional 50 shares during the period. Steward Financial Group LLC purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $34,000. GPS Wealth Strategies Group LLC increased its position in shares of Vertex Pharmaceuticals by 104.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 149 shares of the pharmaceutical company’s stock worth $39,000 after acquiring an additional 76 shares during the last quarter. Cordasco Financial Network acquired a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $40,000. Finally, Vestor Capital LLC purchased a new position in Vertex Pharmaceuticals in the first quarter valued at about $41,000. Hedge funds and other institutional investors own 91.33% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Argus upped their target price on Vertex Pharmaceuticals from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, June 13th. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $250.00 to $253.00 and gave the company an “equal weight” rating in a report on Monday, August 8th. Cowen raised their price objective on shares of Vertex Pharmaceuticals from $305.00 to $310.00 in a report on Monday, June 13th. Maxim Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research note on Wednesday, June 1st. Finally, HC Wainwright lifted their price target on Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.65.
Vertex Pharmaceuticals Stock Performance
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last announced its earnings results on Thursday, August 4th. The pharmaceutical company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.48. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. Vertex Pharmaceuticals had a return on equity of 31.22% and a net margin of 38.26%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 12.56 earnings per share for the current fiscal year.
Insider Activity at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 621 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $278.77, for a total transaction of $173,116.17. Following the sale, the director now directly owns 5,282 shares in the company, valued at approximately $1,472,463.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 11,689 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $305.06, for a total value of $3,565,846.34. Following the completion of the sale, the chief executive officer now directly owns 99,598 shares in the company, valued at $30,383,365.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 621 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $278.77, for a total value of $173,116.17. Following the completion of the sale, the director now owns 5,282 shares of the company’s stock, valued at $1,472,463.14. The disclosure for this sale can be found here. Insiders sold 196,831 shares of company stock worth $56,532,979 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.
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