SageGuard Financial Group LLC Has $2.04 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• SageGuard Financial Group LLC cut its Vertex Pharmaceuticals stake by 43.5% in the first quarter, selling 3,525 shares and leaving it with 4,578 shares worth about $2.04 million.
• Vertex reported strong quarterly results, posting $4.47 EPS versus the $4.24 consensus and 8.3% revenue growth year over year to $2.99 billion.
• Analyst sentiment remains broadly positive, with 22 Buy ratings and an average target price of $555.91, even as a few recent insider sales were disclosed.

SageGuard Financial Group LLC lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 43.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,578 shares of the pharmaceutical company's stock after selling 3,525 shares during the period. SageGuard Financial Group LLC's holdings in Vertex Pharmaceuticals were worth $2,044,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of VRTX. Motiv8 Investments LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth $26,000. Swiss RE Ltd. acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $28,000. Eagle Bay Advisors LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $29,000. IMG Wealth Management Inc. increased its holdings in shares of Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after acquiring an additional 50 shares in the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $33,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $491.34 on Monday. The company has a market cap of $124.70 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 2.10 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92. The business has a 50 day moving average price of $442.17 and a two-hundred day moving average price of $454.24.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the company earned $4.06 earnings per share. The firm's revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VRTX shares. Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price objective on the stock in a report on Wednesday, March 18th. HC Wainwright increased their target price on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a "buy" rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Sanford C. Bernstein reduced their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating for the company in a report on Tuesday, May 5th. Twenty-two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $555.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 1,020 shares of the firm's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $462.17, for a total value of $471,413.40. Following the completion of the transaction, the chief marketing officer owned 15,933 shares in the company, valued at $7,363,754.61. This trade represents a 6.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 16,215 shares of company stock worth $7,272,420. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

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