Foster Victor Wealth Advisors LLC Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Foster Victor Wealth Advisors LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,588 shares of the pharmaceutical company’s stock after purchasing an additional 3,062 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $10,376,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Vertex Pharmaceuticals by 0.8% in the third quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock worth $5,495,501,000 after acquiring an additional 90,173 shares in the last quarter. Jennison Associates LLC increased its stake in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after purchasing an additional 851,054 shares in the last quarter. Wellington Management Group LLP raised its holdings in Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after buying an additional 704,421 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Vertex Pharmaceuticals by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after buying an additional 159,693 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Vertex Pharmaceuticals by 4.1% during the third quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock valued at $1,170,506,000 after buying an additional 100,114 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VRTX. UBS Group upped their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. BMO Capital Markets lowered their price target on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, December 20th. Citigroup initiated coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Finally, Scotiabank boosted their price objective on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $494.76.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $440.68 on Wednesday. The stock has a market capitalization of $113.49 billion, a price-to-earnings ratio of -221.45, a PEG ratio of 2.20 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company has a fifty day moving average of $434.75 and a 200 day moving average of $463.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.67 earnings per share. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.