Constitution Capital LLC Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Constitution Capital LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.3% in the third quarter, Holdings Channel reports. The firm owned 1,200 shares of the pharmaceutical company’s stock after purchasing an additional 150 shares during the period. Constitution Capital LLC’s holdings in Vertex Pharmaceuticals were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of VRTX. Brookstone Capital Management lifted its holdings in shares of Vertex Pharmaceuticals by 11.1% during the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after purchasing an additional 237 shares during the period. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at $2,763,000. Creative Planning increased its stake in shares of Vertex Pharmaceuticals by 5.3% in the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after acquiring an additional 3,998 shares during the period. Blue Trust Inc. raised its holdings in shares of Vertex Pharmaceuticals by 640.0% during the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Vertex Pharmaceuticals during the second quarter valued at $74,213,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the sale, the chief executive officer now owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the sale, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the transaction, the chief marketing officer now directly owns 25,539 shares of the company’s stock, valued at approximately $12,474,779.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,487 shares of company stock worth $14,657,149. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $0.28 on Monday, hitting $481.99. 76,161 shares of the company were exchanged, compared to its average volume of 1,171,722. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $510.64. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $124.38 billion, a price-to-earnings ratio of 31.26 and a beta of 0.40. The company has a 50-day moving average price of $473.48 and a 200 day moving average price of $457.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its 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). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company earned $3.53 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the topic of several analyst reports. Piper Sandler increased their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. TD Cowen boosted their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada dropped their price objective on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $486.95.

Vertex Pharmaceuticals Company 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.