S&CO Inc. Buys Shares of 4,103 Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• S&CO Inc. purchased 4,103 Vertex Pharmaceuticals shares worth approximately $2.04 million during the second quarter. Institutional investors collectively own 90.96% of Vertex’s outstanding stock.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and above estimates, while earnings of $4.73 per share narrowly missed expectations. Analysts project $16.86 in full-year EPS.
• Analyst sentiment remains positive, with an average “Moderate Buy” rating and a $563.50 price target versus the stock’s $505.75 price. However, insiders have sold 10,464 shares worth nearly $5 million over the past 90 days.

S&CO Inc. purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,103 shares of the pharmaceutical company's stock, valued at approximately $2,038,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Community Financial Services Group LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $26,000. Motiv8 Investments LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $26,000. Elevation Wealth Partners LLC grew its stake in Vertex Pharmaceuticals by 103.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 28 shares during the period. Swiss RE Ltd. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. Finally, IMG Wealth Management Inc. raised its holdings in Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock valued at $31,000 after acquiring an additional 50 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Down 2.1%

NASDAQ:VRTX opened at $505.75 on Friday. The company has a market cap of $128.36 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.09 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $546.17. The firm's 50 day moving average is $483.26 and its two-hundred day moving average is $463.76.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the business earned $4.52 EPS. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the sale, the executive vice president owned 11,001 shares of the company's stock, valued at $5,709,519. This represents a 12.29% decrease in their ownership of the stock. 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 ninety days, insiders have sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent analyst reports. TD Cowen increased their price target on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Sanford C. Bernstein raised Vertex Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, July 29th. Barclays upped their target price on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Truist Financial increased their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $563.50.

Vertex Pharmaceuticals Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source