Russell Investments Group Ltd. grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 41.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 337,447 shares of the pharmaceutical company's stock after buying an additional 98,105 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Vertex Pharmaceuticals worth $163,658,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Quent Capital LLC raised its position in Vertex Pharmaceuticals by 4.5% during the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after acquiring an additional 22 shares during the period. Advisor OS LLC increased its stake in shares of Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after purchasing an additional 23 shares in the last quarter. Sculati Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 1.0% during the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after purchasing an additional 25 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Vertex Pharmaceuticals by 2.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after purchasing an additional 25 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its stake in Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after buying an additional 25 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Stock Up 2.1%
Shares of Vertex Pharmaceuticals stock traded up $8.15 during mid-day trading on Wednesday, hitting $395.92. The stock had a trading volume of 1,913,607 shares, compared to its average volume of 2,284,947. The firm has a 50-day moving average of $447.18 and a two-hundred day moving average of $464.48. The firm has a market cap of $101.51 billion, a P/E ratio of 28.30 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($12.83) earnings per share. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.
Insider Buying and Selling at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company's stock.
Wall Street Analyst Weigh In
VRTX has been the subject of several research reports. Leerink Partners reiterated a "market perform" rating and set a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research note on Wednesday, August 6th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Thirteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $497.10.
Read Our Latest Stock Analysis on VRTX
About Vertex Pharmaceuticals
(
Free Report)
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.
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