Azimuth Capital Investment Management LLC Acquires 8,353 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Posted by on Jun 14th, 2023

Azimuth Capital Investment Management LLC grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,783 shares of the pharmaceutical company’s stock after acquiring an additional 8,353 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $12,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of VRTX. LSV Asset Management boosted its holdings in Vertex Pharmaceuticals by 206.3% in the 1st quarter. LSV Asset Management now owns 4,751 shares of the pharmaceutical company’s stock worth $1,240,000 after buying an additional 3,200 shares during the period. Synovus Financial Corp boosted its holdings in shares of Vertex Pharmaceuticals by 9.6% during the 1st quarter. Synovus Financial Corp now owns 6,737 shares of the pharmaceutical company’s stock valued at $1,759,000 after purchasing an additional 590 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 69.4% during the 1st quarter. Cibc World Market Inc. now owns 6,622 shares of the pharmaceutical company’s stock valued at $1,728,000 after purchasing an additional 2,713 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Vertex Pharmaceuticals by 28.4% during the 1st quarter. Sei Investments Co. now owns 44,090 shares of the pharmaceutical company’s stock valued at $11,756,000 after purchasing an additional 9,761 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Vertex Pharmaceuticals by 4.0% during the 1st quarter. Cetera Investment Advisers now owns 14,114 shares of the pharmaceutical company’s stock valued at $3,683,000 after purchasing an additional 544 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on VRTX shares. StockNews.com started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Robert W. Baird increased their price objective on shares of Vertex Pharmaceuticals from $280.00 to $325.00 in a report on Tuesday, May 2nd. Barclays increased their price objective on shares of Vertex Pharmaceuticals from $342.00 to $384.00 in a report on Tuesday, May 2nd. Truist Financial upped their target price on shares of Vertex Pharmaceuticals from $341.00 to $456.00 in a research report on Tuesday, May 2nd. Finally, Westpark Capital initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, May 25th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $354.22.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, CFO Charles F. Wagner, Jr. sold 2,000 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $296.39, for a total value of $592,780.00. Following the transaction, the chief financial officer now directly owns 51,379 shares in the company, valued at approximately $15,228,221.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Vertex Pharmaceuticals news, CFO Charles F. Wagner, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $296.39, for a total value of $592,780.00. Following the completion of the sale, the chief financial officer now directly owns 51,379 shares in the company, valued at $15,228,221.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Bastiano Sanna sold 1,622 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $350.66, for a total transaction of $568,770.52. Following the completion of the sale, the executive vice president now owns 38,091 shares of the company’s stock, valued at $13,356,990.06. The disclosure for this sale can be found here. Insiders have sold 53,519 shares of company stock worth $17,674,209 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $342.10 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.28 and a quick ratio of 4.11. The company has a market capitalization of $88.11 billion, a P/E ratio of 27.24, a P/E/G ratio of 3.11 and a beta of 0.50. The company’s 50-day simple moving average is $334.93 and its two-hundred day simple moving average is $313.19. Vertex Pharmaceuticals Incorporated has a one year low of $243.17 and a one year high of $354.46.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last issued its earnings results on Monday, May 1st. The pharmaceutical company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.54. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. Vertex Pharmaceuticals had a net margin of 35.40% and a return on equity of 25.06%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.16 EPS. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 13.05 EPS for the current year.

Vertex Pharmaceuticals Profile

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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.

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

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