Pitcairn Co. Has $810,000 Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Pitcairn Co. grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,937 shares of the pharmaceutical company’s stock after buying an additional 150 shares during the quarter. Pitcairn Co.’s holdings in Vertex Pharmaceuticals were worth $810,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at 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 valued at $27,000 after buying an additional 33 shares during the last quarter. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter valued at about $27,000. ICA Group Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $28,000. Finally, Baystate Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.3 %

NASDAQ:VRTX traded up $1.46 during midday trading on Thursday, reaching $492.26. 988,617 shares of the stock traded hands, compared to its average volume of 1,210,871. The company has a fifty day moving average of $472.14 and a 200 day moving average of $436.37. Vertex Pharmaceuticals Incorporated has a 12 month low of $340.20 and a 12 month high of $503.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The stock has a market capitalization of $127.03 billion, a P/E ratio of 31.85, a PEG ratio of 2.52 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm posted $2.67 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.19 EPS for the current year.

Analyst Ratings Changes

VRTX has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised their price target on shares of Vertex Pharmaceuticals from $440.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday. Canaccord Genuity Group reissued a “sell” rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. UBS Group dropped their price target on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. TD Cowen lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Piper Sandler lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $460.30.

Insider Activity

In other news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares in the company, valued at approximately $55,467,918. The disclosure for this sale can be found here. Insiders have sold a total of 48,128 shares of company stock valued at $22,839,005 in the last 90 days. 0.20% of the stock is currently owned by 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.