Diversify Wealth Management LLC Raises Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Diversify Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,012 shares of the pharmaceutical company's stock after acquiring an additional 1,239 shares during the quarter. Diversify Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $5,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VRTX. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $31,000. SJS Investment Consulting Inc. increased its holdings in Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after buying an additional 30 shares during the last quarter. Truvestments Capital LLC increased its holdings in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $40,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $44,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Down 2.2%

Shares of NASDAQ VRTX traded down $10.68 during mid-day trading on Friday, hitting $468.85. The stock had a trading volume of 892,738 shares, compared to its average volume of 1,424,305. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The business has a 50 day moving average price of $448.35 and a two-hundred day moving average price of $459.98. The firm has a market cap of $120.40 billion, a P/E ratio of -119.60 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results 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 return on equity of 3.36% and a negative net margin of 8.91%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same period in the previous year, the firm earned $4.76 earnings per share. The firm's quarterly 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $535.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Scotiabank reduced their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada set a $420.00 price target on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus 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.