D.B. Root & Company LLC Has $424,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

D.B. Root & Company LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 911 shares of the pharmaceutical company’s stock after selling 124 shares during the period. D.B. Root & Company LLC’s holdings in Vertex Pharmaceuticals were worth $424,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VRTX. Concurrent Investment Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 35.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,072 shares of the pharmaceutical company’s stock worth $964,000 after acquiring an additional 541 shares during the last quarter. Wisconsin Capital Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 183.5% during the 3rd quarter. Wisconsin Capital Management LLC now owns 7,121 shares of the pharmaceutical company’s stock worth $3,312,000 after acquiring an additional 4,609 shares during the last quarter. Catalina Capital Group LLC increased its holdings in shares of Vertex Pharmaceuticals by 5.5% during the 3rd quarter. Catalina Capital Group LLC now owns 824 shares of the pharmaceutical company’s stock worth $383,000 after acquiring an additional 43 shares during the last quarter. Crestwood Advisors Group LLC increased its holdings in shares of Vertex Pharmaceuticals by 0.8% during the 3rd quarter. Crestwood Advisors Group LLC now owns 5,678 shares of the pharmaceutical company’s stock worth $2,641,000 after acquiring an additional 46 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Vertex Pharmaceuticals by 328.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 939 shares of the pharmaceutical company’s stock worth $437,000 after acquiring an additional 720 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VRTX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. UBS Group upped their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler upped their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $495.96.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’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 transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction 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 sale, the director now owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.2 %

NASDAQ VRTX opened at $493.64 on Thursday. The business has a 50 day simple moving average of $474.81 and a 200 day simple moving average of $466.95. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. The stock has a market capitalization of $127.41 billion, a P/E ratio of -248.06 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.88% and a negative net margin of 4.52%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 earnings per share. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current year.

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.