Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,466 shares of the pharmaceutical company’s stock after buying an additional 401 shares during the quarter. New York Life Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $18,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Groesbeck Investment Management Corp NJ boosted its position in Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its holdings in Vertex Pharmaceuticals by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after purchasing an additional 22 shares during the period. Drive Wealth Management LLC grew its stake in Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after purchasing an additional 22 shares in the last quarter. RFP Financial Group LLC increased its holdings in Vertex Pharmaceuticals by 17.0% during the 2nd quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock worth $74,000 after purchasing an additional 23 shares during the period. Finally, Hohimer Wealth Management LLC raised its position in Vertex Pharmaceuticals by 0.8% in the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $468.00 on Friday. The firm has a market capitalization of $120.77 billion, a price-to-earnings ratio of 30.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The business’s 50 day simple moving average is $483.31 and its 200-day simple moving average is $448.38. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $3.53 EPS. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Truist Financial restated a “buy” rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, Guggenheim lifted their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $485.91.

Insiders Place Their Bets

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Reshma Kewalramani sold 15,202 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,615 shares of company stock valued at $21,417,310. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Profile

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.