1,693 Shares in Vertex Pharmaceuticals Incorporated $VRTX Acquired by Larry Mathis Financial Planning LLC

Larry Mathis Financial Planning LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,693 shares of the pharmaceutical company’s stock, valued at approximately $768,000.

A number of other large investors also recently added to or reduced their stakes in the company. Motiv8 Investments LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $26,000. Colonial Trust Co SC raised its holdings in shares of Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 38 shares during the period. Swiss RE Ltd. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $28,000. Eagle Bay Advisors LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth about $29,000. Finally, IMG Wealth Management Inc. lifted its stake in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 50 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on VRTX shares. Jefferies Financial Group assumed coverage on Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price for the company. Canaccord Genuity Group reduced their price target on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research report on Tuesday, May 5th. Bank of America raised their price objective on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Citigroup upped their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $555.91.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $451.63 on Friday. The company has a market cap of $114.62 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.93 and a beta of 0.30. The stock’s 50-day moving average is $438.71 and its two-hundred day moving average is $453.13. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the business posted $4.06 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. The trade was 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 through this hyperlink. 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 stock was sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the transaction, the chief marketing officer owned 16,953 shares of the company’s stock, valued at $7,628,850. This trade represents a 19.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,195 shares of company stock valued at $6,801,006 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

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.