Private Trust Co. NA Sells 39 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Posted by Defense World Staff on Jun 24th, 2023

Private Trust Co. NA lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,110 shares of the pharmaceutical company’s stock after selling 39 shares during the period. Private Trust Co. NA’s holdings in Vertex Pharmaceuticals were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VRTX. Y.D. More Investments Ltd acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $26,000. Steward Financial Group LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $28,000. SJS Investment Consulting Inc. lifted its stake in Vertex Pharmaceuticals by 61.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 102 shares of the pharmaceutical company’s stock valued at $29,000 after acquiring an additional 39 shares during the last quarter. New Hampshire Trust acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $29,000. Finally, Freedom Wealth Alliance LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $29,000. Institutional investors own 91.37% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Bastiano Sanna sold 7,567 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $326.70, for a total transaction of $2,472,138.90. Following the sale, the executive vice president now directly owns 39,713 shares of the company’s stock, valued at approximately $12,974,237.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Bastiano Sanna sold 7,567 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $326.70, for a total transaction of $2,472,138.90. Following the sale, the executive vice president now directly owns 39,713 shares of the company’s stock, valued at approximately $12,974,237.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce I. Sachs sold 21,300 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $326.73, for a total transaction of $6,959,349.00. Following the sale, the director now directly owns 41,210 shares in the company, valued at $13,464,543.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,608 shares of company stock valued at $18,718,544. 0.30% of the stock is owned by insiders.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $347.00 on Friday. The company has a quick ratio of 4.11, a current ratio of 4.28 and a debt-to-equity ratio of 0.03. Vertex Pharmaceuticals Incorporated has a 12 month low of $271.61 and a 12 month high of $354.46. The firm has a market cap of $89.37 billion, a P/E ratio of 27.63, a P/E/G ratio of 3.24 and a beta of 0.50. The company’s 50-day moving average price is $338.14 and its two-hundred day moving average price is $314.81.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last released its earnings results on Monday, May 1st. The pharmaceutical company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.51 by $0.54. Vertex Pharmaceuticals had a net margin of 35.40% and a return on equity of 25.06%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the firm earned $3.16 EPS. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 13.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of recent analyst reports. HC Wainwright increased their price target on shares of Vertex Pharmaceuticals from $326.00 to $380.00 in a research note on Tuesday, May 2nd. William Blair started coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 30th. They set an “outperform” rating and a $382.00 target price for the company. Royal Bank of Canada raised their target price on shares of Vertex Pharmaceuticals from $315.00 to $323.00 in a research note on Thursday, June 8th. Stifel Nicolaus raised their target price on shares of Vertex Pharmaceuticals from $300.00 to $340.00 in a research note on Tuesday, May 2nd. Finally, Maxim Group raised their target price on shares of Vertex Pharmaceuticals from $325.00 to $400.00 in a research note on Wednesday, May 3rd. Six research 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 stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $354.22.

About Vertex Pharmaceuticals

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Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.