Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 51.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 930 shares of the pharmaceutical company’s stock after selling 969 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Vertex Pharmaceuticals were worth $486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRTX. Ritholtz Wealth Management boosted its stake in shares of Vertex Pharmaceuticals by 5.0% during the third quarter. Ritholtz Wealth Management now owns 4,943 shares of the pharmaceutical company’s stock valued at $2,584,000 after purchasing an additional 234 shares in the last quarter. UNIVEST FINANCIAL Corp raised its stake in Vertex Pharmaceuticals by 140.7% in the third quarter. UNIVEST FINANCIAL Corp now owns 21,785 shares of the pharmaceutical company’s stock worth $11,389,000 after buying an additional 12,736 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in Vertex Pharmaceuticals by 6.8% in the third quarter. Joel Isaacson & Co. LLC now owns 614 shares of the pharmaceutical company’s stock worth $321,000 after buying an additional 39 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in Vertex Pharmaceuticals by 16.2% during the third quarter. Jacobi Capital Management LLC now owns 1,318 shares of the pharmaceutical company’s stock worth $689,000 after buying an additional 184 shares during the period. Finally, First Command Advisory Services Inc. lifted its holdings in Vertex Pharmaceuticals by 385.7% during the third quarter. First Command Advisory Services Inc. now owns 68 shares of the pharmaceutical company’s stock worth $36,000 after buying an additional 54 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $547.03 on Thursday. The company has a market cap of $138.69 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.90 and a beta of 0.28. Vertex Pharmaceuticals Incorporated has a twelve month low of $412.27 and a twelve month high of $568.67. The company has a quick ratio of 1.89, a current ratio of 2.34 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $523.04 and a two-hundred day moving average of $483.19.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.06). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.42 billion. Vertex Pharmaceuticals had a return on equity of 21.98% and a net margin of 30.70%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.80 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 16.10 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays lifted their price target on Vertex Pharmaceuticals from $617.00 to $626.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Scotiabank upped their price objective on Vertex Pharmaceuticals from $558.00 to $660.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 3rd. Royal Bank Of Canada raised their price objective on Vertex Pharmaceuticals from $576.00 to $600.00 and gave the company an “outperform” rating in a research report on Tuesday, November 3rd. Evercore raised their price objective on Vertex Pharmaceuticals from $535.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. Finally, Jefferies Financial Group lifted their target price on Vertex Pharmaceuticals from $633.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $596.44.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF). Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.