Bowen Hanes & Co. Inc. Has $60.46 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Bowen Hanes & Co. Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 135,399 shares of the pharmaceutical company’s stock after acquiring an additional 1,895 shares during the period. Bowen Hanes & Co. Inc. owned about 0.05% of Vertex Pharmaceuticals worth $60,461,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Motiv8 Investments LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $26,000. Swiss RE Ltd. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at $28,000. Eagle Bay Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $29,000. IMG Wealth Management Inc. increased its stake in Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 50 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.1%

VRTX stock opened at $473.09 on Friday. The business’s 50 day simple moving average is $464.96 and its 200 day simple moving average is $459.67. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $533.67. The firm has a market capitalization of $120.07 billion, a PE ratio of 28.06, a PEG ratio of 2.13 and a beta of 0.29.

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 the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the company earned $4.06 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 6,988 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the transaction, the chief marketing officer directly owned 26,088 shares in the company, valued at approximately $11,739,600. This represents a 21.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the sale, the executive vice president directly owned 11,001 shares of the company’s stock, valued at $5,709,519. This represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,874 shares of company stock valued at $8,707,966 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Royal Bank Of Canada upped their target price on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Truist Financial increased their price target on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Canaccord Genuity Group decreased their price target on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a research note on Tuesday, May 5th. Finally, UBS Group boosted their price target on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $559.61.

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.