Grandfield & Dodd LLC Buys 129 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Grandfield & Dodd LLC grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,115 shares of the pharmaceutical company’s stock after buying an additional 129 shares during the period. Grandfield & Dodd LLC’s holdings in Vertex Pharmaceuticals were worth $3,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $25,000. Arlington Trust Co LLC grew its holdings in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares in the last quarter. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals in the first quarter worth approximately $27,000. ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $28,000. Finally, Fortitude Family Office LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $30,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Up 0.1 %

VRTX traded up $0.51 during trading on Thursday, reaching $492.13. The stock had a trading volume of 882,550 shares, compared to its average volume of 1,218,617. The stock’s 50 day moving average is $459.28 and its two-hundred day moving average is $431.15. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $126.99 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 2.50 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a one year low of $340.20 and a one year high of $495.23.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the firm posted $2.67 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.08 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Edward Morrow Atkinson III sold 7,288 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the sale, the executive vice president now directly owns 15,972 shares of the company’s stock, valued at $7,634,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total value of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares in the company, valued at $14,198,300.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,366 shares of company stock valued at $13,058,787. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several research reports. BMO Capital Markets upped their target price on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price for the company. Royal Bank of Canada cut their target price on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. Guggenheim increased their price objective on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, UBS Group dropped their price objective on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $452.57.

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.