Waterloo Capital L.P. Invests $1.78 Million in Vertex Pharmaceuticals Incorporated $VRTX

Waterloo Capital L.P. purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, Holdings Channel.com reports. The fund purchased 3,929 shares of the pharmaceutical company’s stock, valued at approximately $1,781,000.

Several other hedge funds have also added to or reduced their stakes in the business. Earned Wealth Advisors LLC lifted its stake in Vertex Pharmaceuticals by 3.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after purchasing an additional 21 shares during the last quarter. Confluence Wealth Services Inc. lifted its stake in 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 purchasing an additional 21 shares during the last quarter. Childress Capital Advisors LLC lifted its stake in Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock worth $331,000 after purchasing an additional 22 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Vertex Pharmaceuticals by 0.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock worth $2,279,000 after purchasing an additional 24 shares during the last quarter. Finally, Glenview Trust Co lifted its stake in Vertex Pharmaceuticals by 0.3% in the fourth quarter. Glenview Trust Co now owns 7,005 shares of the pharmaceutical company’s stock worth $3,176,000 after purchasing an additional 24 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the sale, the director owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the completion of the sale, the chief marketing officer owned 26,088 shares in the company, valued at approximately $11,739,600. This trade represents a 21.13% 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. Over the last quarter, insiders have sold 11,717 shares of company stock worth $5,309,945. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $447.54 on Monday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92. The company’s 50-day moving average is $439.06 and its 200 day moving average is $451.85. The stock has a market capitalization of $113.59 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.92 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results 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 net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company earned $4.06 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.99 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Canaccord Genuity Group lowered their price target on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a research note on Tuesday, May 5th. Oppenheimer boosted their price target on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Bank of America boosted their price objective on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Finally, Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $555.91.

Vertex Pharmaceuticals 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.