WINTON GROUP Ltd Purchases New Shares in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• WINTON GROUP Ltd disclosed a new fourth-quarter stake in Vertex Pharmaceuticals, buying 10,623 shares worth about $4.8 million.
• Vertex reported strong quarterly earnings, with EPS of $4.47 beating estimates and revenue of $2.99 billion, while revenue rose 8.3% year over year.
• Despite some insider selling, institutional ownership remains high at 90.96%, and analysts are broadly positive with a consensus rating of Moderate Buy and a price target of $555.91.

WINTON GROUP Ltd purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,623 shares of the pharmaceutical company's stock, valued at approximately $4,816,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Earned Wealth Advisors LLC raised its position in Vertex Pharmaceuticals by 3.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company's stock valued at $295,000 after purchasing an additional 21 shares during the last quarter. Confluence Wealth Services Inc. raised its position in Vertex Pharmaceuticals by 4.0% in the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company's stock valued at $247,000 after purchasing an additional 21 shares during the last quarter. Childress Capital Advisors LLC raised its position in Vertex Pharmaceuticals by 3.1% in the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company's stock valued at $331,000 after purchasing an additional 22 shares during the last quarter. Central Pacific Bank Trust Division raised its position in Vertex Pharmaceuticals by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company's stock valued at $2,279,000 after purchasing an additional 24 shares during the last quarter. Finally, Glenview Trust Co raised its position in Vertex Pharmaceuticals by 0.3% in the 4th quarter. Glenview Trust Co now owns 7,005 shares of the pharmaceutical company's stock valued at $3,176,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $446.83 on Friday. The company has a market cap of $113.41 billion, a P/E ratio of 26.50, a PEG ratio of 1.91 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The firm has a fifty day moving average of $437.33 and a two-hundred day moving average of $451.81.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.06 EPS. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, CMO Carmen Bozic sold 6,988 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the transaction, the chief marketing officer directly owned 26,088 shares of the company's stock, valued at $11,739,600. This represents a 21.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $425.02, for a total transaction of $469,222.08. Following the transaction, the executive vice president directly owned 20,729 shares in the company, valued at approximately $8,810,239.58. This trade represents a 5.06% 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 quarter, insiders sold 11,717 shares of company stock worth $5,309,945. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on VRTX. Sanford C. Bernstein reduced 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 report on Tuesday, May 5th. Truist Financial started coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They issued a "buy" rating and a $542.00 price target for the company. Jefferies Financial Group started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They set a "buy" rating and a $580.00 price objective for the company. Barclays upped their price objective on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley upped their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Twenty-two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $555.91.

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.

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