Retirement Guys Formula LLC Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Retirement Guys Formula LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,901 shares of the pharmaceutical company’s stock after purchasing an additional 91 shares during the quarter. Retirement Guys Formula LLC’s holdings in Vertex Pharmaceuticals were worth $1,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Capital World Investors raised its position in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after purchasing an additional 3,761,414 shares during the last quarter. Capital Research Global Investors raised its position in shares of Vertex Pharmaceuticals by 61.0% in the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after purchasing an additional 2,176,218 shares during the last quarter. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after purchasing an additional 837,461 shares during the last quarter. Swedbank AB purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $277,317,000. Finally, AMF Tjanstepension AB purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $257,655,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 0.1 %

NASDAQ VRTX traded up $0.45 during trading on Monday, hitting $483.45. The stock had a trading volume of 335,461 shares, compared to its average volume of 1,173,688. The company has a market capitalization of $124.78 billion, a PE ratio of -237.93 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $475.21 and a 200 day moving average price of $460.23. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.53 earnings per share. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on VRTX shares. Bank of America cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. HC Wainwright reiterated a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday. TD Cowen increased their price target on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price target on the stock. Finally, StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $492.92.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,285 shares of company stock worth $7,101,755. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals 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.