RDA Financial Network Acquires 569 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

RDA Financial Network grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 33.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,282 shares of the pharmaceutical company’s stock after buying an additional 569 shares during the quarter. RDA Financial Network’s holdings in Vertex Pharmaceuticals were worth $954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Rathbones Group PLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $439,000. Acadian Asset Management LLC grew its holdings in Vertex Pharmaceuticals by 1.8% during the third quarter. Acadian Asset Management LLC now owns 24,256 shares of the pharmaceutical company’s stock worth $8,425,000 after buying an additional 432 shares in the last quarter. LPL Financial LLC raised its position in Vertex Pharmaceuticals by 1.0% in the 3rd quarter. LPL Financial LLC now owns 173,737 shares of the pharmaceutical company’s stock valued at $60,415,000 after buying an additional 1,709 shares during the last quarter. Mariner LLC lifted its stake in Vertex Pharmaceuticals by 3.6% during the 3rd quarter. Mariner LLC now owns 96,612 shares of the pharmaceutical company’s stock valued at $33,596,000 after acquiring an additional 3,382 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Vertex Pharmaceuticals by 22.5% during the 3rd quarter. Federated Hermes Inc. now owns 192,819 shares of the pharmaceutical company’s stock worth $67,051,000 after acquiring an additional 35,371 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares in the company, valued at $15,477,162. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the sale, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,086 shares of company stock valued at $11,983,266. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $2.67 during mid-day trading on Friday, hitting $468.71. The company had a trading volume of 2,825,832 shares, compared to its average volume of 1,094,332. The stock’s 50-day moving average price is $437.05 and its 200-day moving average price is $422.99. The company has a market capitalization of $120.95 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 2.42 and a beta of 0.41. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1 year low of $335.82 and a 1 year high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.67 earnings per share. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VRTX shares. Piper Sandler raised their price target on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Guggenheim upped their target price on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Royal Bank of Canada decreased their price target on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 11th. HC Wainwright reissued a “buy” rating and issued a $462.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Finally, Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price for the company in a research report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $443.55.

Check Out Our Latest Stock Analysis on VRTX

Vertex Pharmaceuticals Company 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.

Read More

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report).

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.