Meeder Advisory Services Inc. Takes $3.19 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Meeder Advisory Services Inc. purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,415 shares of the pharmaceutical company’s stock, valued at approximately $3,187,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank boosted its stake in Vertex Pharmaceuticals by 0.4% during the 2nd quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company’s stock worth $2,220,000 after purchasing an additional 20 shares during the last quarter. Earned Wealth Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 3.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after buying an additional 21 shares during the last quarter. Confluence Wealth Services Inc. lifted its stake in shares of Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after buying an additional 21 shares in the last quarter. Trust Point Inc. grew its stake in Vertex Pharmaceuticals by 2.7% during the 2nd quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company’s stock valued at $394,000 after acquiring an additional 21 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. boosted its stake in Vertex Pharmaceuticals by 1.9% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after buying an additional 21 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 2.5%

Shares of NASDAQ:VRTX opened at $528.19 on Wednesday. The business has a 50-day moving average price of $486.36 and a 200 day moving average price of $464.31. The company has a market capitalization of $134.05 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.09 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12-month low of $374.17 and a 12-month high of $546.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.52 EPS. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Truist Financial raised their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Canaccord Genuity Group lifted their target price on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $563.50.

Insider Buying and Selling

In related news, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the sale, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. The trade was a 3.20% decrease in their position. 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 quarter, insiders sold 10,464 shares of company stock valued at $4,959,397. Company insiders own 0.20% of the company’s stock.

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.