Waterloo Capital L.P. Invests $1.78 Million in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Waterloo Capital L.P. opened a new position in Vertex Pharmaceuticals during the fourth quarter, buying 3,929 shares worth about $1.78 million.
• Vertex reported better-than-expected quarterly earnings, posting $4.47 per share versus estimates of $4.24, while revenue of $2.99 billion matched forecasts and rose 8.3% year over year.
• Analyst sentiment remains mostly positive, with 22 Buy ratings and 3 Hold ratings and a consensus price target of $555.91, even after one recent downgrade to Hold.

Waterloo Capital L.P. acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,929 shares of the pharmaceutical company's stock, valued at approximately $1,781,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Danske Bank A S bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $64,417,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Vertex Pharmaceuticals by 3.8% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company's stock worth $213,435,000 after buying an additional 20,053 shares in the last quarter. Leuthold Group LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $5,030,000. Legacy Capital Group California Inc. bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $956,000. Finally, ING Groep NV bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $4,695,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $447.54 on Monday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92. The firm has a market capitalization of $113.59 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.92 and a beta of 0.30. The firm has a 50 day simple moving average of $439.06 and a 200 day simple moving average of $451.85.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share 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 business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business earned $4.06 EPS. Vertex Pharmaceuticals's revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.99 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Joy Liu sold 1,104 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president directly owned 20,729 shares of the company's stock, valued at $8,810,239.58. This trade represents a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the firm's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the transaction, the director directly owned 4,924 shares of the company's stock, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,717 shares of company stock valued at $5,309,945 in the last three months. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

VRTX has been the subject of several research analyst reports. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group initiated coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They set a "buy" rating and a $580.00 price target for the company. Citigroup raised their price target on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a research note on Tuesday, March 10th. Sanford C. Bernstein decreased their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Finally, Bank of America raised their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a "buy" rating in a research note on Tuesday, March 10th. Twenty-two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $555.91.

About Vertex Pharmaceuticals

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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