Diversified Trust Co Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Posted by Defense World Staff on Mar 26th, 2023

Diversified Trust Co increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 31.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,320 shares of the pharmaceutical company’s stock after purchasing an additional 553 shares during the period. Diversified Trust Co’s holdings in Vertex Pharmaceuticals were worth $670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its position in shares of Vertex Pharmaceuticals by 5.3% in the third quarter. AdvisorNet Financial Inc now owns 1,153 shares of the pharmaceutical company’s stock valued at $334,000 after purchasing an additional 58 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $1,318,000. Ardevora Asset Management LLP purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $41,267,000. Quadrant Capital Group LLC raised its stake in shares of Vertex Pharmaceuticals by 8.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,012 shares of the pharmaceutical company’s stock valued at $583,000 after acquiring an additional 161 shares during the period. Finally, LMR Partners LLP raised its stake in shares of Vertex Pharmaceuticals by 35.1% in the 3rd quarter. LMR Partners LLP now owns 18,980 shares of the pharmaceutical company’s stock valued at $5,495,000 after acquiring an additional 4,928 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 3.2 %

VRTX opened at $314.39 on Friday. The firm has a market capitalization of $80.83 billion, a P/E ratio of 24.50, a P/E/G ratio of 2.65 and a beta of 0.49. The firm’s 50 day moving average is $300.29 and its 200-day moving average is $299.88. Vertex Pharmaceuticals Incorporated has a 52-week low of $233.01 and a 52-week high of $325.19. The company has a quick ratio of 4.66, a current ratio of 4.83 and a debt-to-equity ratio of 0.03.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The pharmaceutical company reported $3.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.65. Vertex Pharmaceuticals had a net margin of 37.20% and a return on equity of 27.78%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the company earned $3.18 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post 12.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 1,304 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 6th. The shares were sold at an average price of $306.00, for a total value of $399,024.00. Following the completion of the transaction, the executive vice president now owns 68,645 shares of the company’s stock, valued at $21,005,370. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Yuchun Lee sold 1,429 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $322.03, for a total transaction of $460,180.87. Following the sale, the director now directly owns 1,875 shares in the company, valued at $603,806.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Altshuler sold 1,304 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $306.00, for a total transaction of $399,024.00. Following the completion of the sale, the executive vice president now owns 68,645 shares in the company, valued at $21,005,370. The disclosure for this sale can be found here. Insiders sold a total of 45,662 shares of company stock valued at $13,885,171 over the last 90 days. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. SVB Securities dropped their price objective on shares of Vertex Pharmaceuticals from $374.00 to $365.00 in a report on Wednesday, February 8th. Piper Sandler restated a “neutral” rating and issued a $296.00 target price on shares of Vertex Pharmaceuticals in a report on Wednesday, February 8th. Sanford C. Bernstein started coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 21st. They issued an “outperform” rating and a $344.00 target price for the company. HC Wainwright upped their target price on shares of Vertex Pharmaceuticals from $300.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Finally, Morgan Stanley lowered their target price on shares of Vertex Pharmaceuticals from $286.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday, February 8th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $327.90.

About Vertex Pharmaceuticals

(Get Rating)

Vertex Pharmaceuticals, Inc is a global biotechnology company, which engages in the business of discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.