9,007 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Acquired by Hedeker Wealth LLC

Key Points

• Hedeker Wealth LLC acquired 9,007 shares of Vertex Pharmaceuticals, valued at approximately $4.37 million, during the first quarter.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.06, missing analysts' estimates, and had a negative net margin of 8.91%.
• Fourteen research analysts have rated Vertex Pharmaceuticals with an average rating of "Moderate Buy" and a target price of $512.30.

Hedeker Wealth LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,007 shares of the pharmaceutical company's stock, valued at approximately $4,367,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $44,000. SJS Investment Consulting Inc. raised its holdings in Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX traded down $2.62 on Friday, hitting $469.65. 1,176,853 shares of the company traded hands, compared to its average volume of 1,076,910. The company has a market capitalization of $120.61 billion, a price-to-earnings ratio of -119.81 and a beta of 0.41. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The business's 50 day moving average price is $453.13 and its 200-day moving average price is $464.68. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the previous year, the firm earned $4.76 earnings per share. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on VRTX shares. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Morgan Stanley lowered their price target on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. HC Wainwright reaffirmed a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Finally, William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $512.30.

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.