Kovitz Investment Group Partners LLC Boosts Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Kovitz Investment Group Partners LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,375 shares of the pharmaceutical company’s stock after purchasing an additional 17,788 shares during the quarter. Vertex Pharmaceuticals makes up 1.0% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 17th biggest position. Kovitz Investment Group Partners LLC’s holdings in Vertex Pharmaceuticals were worth $44,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of VRTX. Compound Planning Inc. increased its stake in Vertex Pharmaceuticals by 174.4% during the 4th quarter. Compound Planning Inc. now owns 6,541 shares of the pharmaceutical company’s stock worth $2,966,000 after buying an additional 4,157 shares in the last quarter. Invesco Ltd. lifted its position in shares of Vertex Pharmaceuticals by 2.7% in the fourth quarter. Invesco Ltd. now owns 2,152,672 shares of the pharmaceutical company’s stock valued at $975,935,000 after acquiring an additional 55,875 shares in the last quarter. Rare Wolf Capital LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $914,000. Axxcess Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $256,000. Finally, Corient Private Wealth LLC boosted its stake in shares of Vertex Pharmaceuticals by 10.2% in the fourth quarter. Corient Private Wealth LLC now owns 112,138 shares of the pharmaceutical company’s stock worth $46,349,000 after acquiring an additional 10,407 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on VRTX. Royal Bank Of Canada increased their price objective on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Canaccord Genuity Group dropped their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a report on Tuesday, May 5th. Jefferies Financial Group began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price for the company. Barclays raised their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Maxim Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price objective for the company in a research note on Wednesday, March 18th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $555.91.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $451.63 on Friday. The company has a 50 day simple moving average of $438.56 and a 200-day simple moving average of $453.14. The company has a market capitalization of $114.62 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.96 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the firm posted $4.06 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the completion of the sale, the executive vice president directly owned 20,729 shares in the company, valued at $8,810,239.58. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the completion of the sale, the chief marketing officer directly owned 16,953 shares in the company, valued at $7,628,850. This trade represents a 19.33% 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 ninety days, insiders have sold 15,195 shares of company stock worth $6,801,006. Company insiders own 0.20% of the company’s stock.

Key Stories Impacting Vertex Pharmaceuticals

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex remains fundamentally strong, with its last reported quarter beating EPS estimates and revenue rising 8.3% year over year, while analysts still broadly rate the stock a moderate buy with a consensus target above the current share price.
• Neutral Sentiment: The company has continued to attract investor attention as a “trending” biotech name, but the recent articles do not cite any new pipeline, regulatory, or earnings catalyst to explain a bigger move.
• Negative Sentiment: CMO Carmen Bozic sold 4,062 shares at $450 each under a Rule 10b5-1 plan, and the insider transaction may be contributing to cautious trading in VRTX. Article Title
• Negative Sentiment: Recent coverage notes the stock has been slipping even as the broader market gained, suggesting investors may be taking profits or reassessing valuation after the latest run-up. Article Title

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.