Wedmont Private Capital Has $1.35 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Wedmont Private Capital lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 37.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,299 shares of the pharmaceutical company’s stock after selling 1,985 shares during the period. Wedmont Private Capital’s holdings in Vertex Pharmaceuticals were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRTX. United Services Automobile Association acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $2,933,000. Lee Johnson Capital Management LLC acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $721,000. Police & Firemen s Retirement System of New Jersey lifted its holdings in Vertex Pharmaceuticals by 3.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after buying an additional 1,393 shares during the period. Bailard Inc. boosted its position in shares of Vertex Pharmaceuticals by 0.5% during the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after purchasing an additional 200 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $10,059,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $447.38 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68. The stock has a market cap of $113.51 billion, a PE ratio of 31.55 and a beta of 0.32. The firm’s 50-day simple moving average is $429.67 and its two-hundred day simple moving average is $425.94.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the prior year, the company posted $4.38 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VRTX. Citigroup lifted their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Morgan Stanley set a $564.00 price objective on Vertex Pharmaceuticals in a report on Friday, December 5th. UBS Group upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $498.42.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $17,202,600. This represents a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. This represents a 72.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 151,073 shares of company stock valued at $67,326,816 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

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.