Stratos Wealth Partners LTD. Reduces Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Stratos Wealth Partners LTD. lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 20.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,284 shares of the pharmaceutical company's stock after selling 1,097 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Vertex Pharmaceuticals were worth $2,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. Truvestments Capital LLC raised its stake in Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $40,000. Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at approximately $44,000. Finally, Prestige Wealth Management Group LLC grew its holdings in Vertex Pharmaceuticals by 45.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after buying an additional 35 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 2.2%

NASDAQ VRTX traded down $10.68 during trading on Friday, hitting $468.85. The company's stock had a trading volume of 892,738 shares, compared to its average volume of 1,424,305. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The company has a market cap of $120.40 billion, a PE ratio of -119.60 and a beta of 0.41. The business's 50 day simple moving average is $448.35 and its 200-day simple moving average is $459.98.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the company earned $4.76 EPS. The business's revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. HC Wainwright restated a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Leerink Partners restated a "market perform" rating and set a $503.00 price target (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Bank of America boosted their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $511.62.

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.