Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by TruWealth Advisors LLC

by · The Cerbat Gem

TruWealth Advisors LLC raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,797 shares of the pharmaceutical company’s stock after purchasing an additional 610 shares during the quarter. TruWealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $10,602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRTX. Drake & Associates LLC raised its stake in Vertex Pharmaceuticals by 51.6% in the 3rd quarter. Drake & Associates LLC now owns 708 shares of the pharmaceutical company’s stock worth $329,000 after acquiring an additional 241 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Vertex Pharmaceuticals by 21.5% in the third quarter. Trust Co. of Vermont now owns 396 shares of the pharmaceutical company’s stock worth $184,000 after purchasing an additional 70 shares during the last quarter. Trifecta Capital Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 1.6% during the third quarter. Trifecta Capital Advisors LLC now owns 13,535 shares of the pharmaceutical company’s stock worth $6,295,000 after purchasing an additional 219 shares during the period. Teamwork Financial Advisors LLC increased its holdings in Vertex Pharmaceuticals by 1,588.1% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 10,095 shares of the pharmaceutical company’s stock worth $4,695,000 after buying an additional 9,497 shares during the period. Finally, Good Life Advisors LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $222,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $498.73 on Friday. The firm has a 50-day simple moving average of $474.92 and a 200-day simple moving average of $459.08. 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 stock has a market capitalization of $128.72 billion, a price-to-earnings ratio of -245.68 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $3.53 earnings per share. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on VRTX. Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. UBS Group upped their target price on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Finally, Piper Sandler upped their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $492.92.

View Our Latest Stock Analysis on VRTX

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the sale, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at $52,767,484. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was 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 in the company, valued at approximately $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,487 shares of company stock worth $14,657,149. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Profile

(Free Report)

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.

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