Connecticut Wealth Management LLC Invests $1.17 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Connecticut Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,881 shares of the pharmaceutical company’s stock, valued at approximately $1,172,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sherbrooke Park Advisers LLC increased its holdings in Vertex Pharmaceuticals by 65.3% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 2,645 shares of the pharmaceutical company’s stock valued at $920,000 after acquiring an additional 1,045 shares in the last quarter. Telos Capital Management Inc. boosted its stake in shares of Vertex Pharmaceuticals by 1.6% during the 4th quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock worth $6,133,000 after purchasing an additional 237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Vertex Pharmaceuticals by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 427,001 shares of the pharmaceutical company’s stock worth $148,485,000 after buying an additional 5,514 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $816,000. Finally, Morgan Stanley lifted its stake in shares of Vertex Pharmaceuticals by 3.2% during the third quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock valued at $998,050,000 after buying an additional 89,217 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.2 %

Shares of Vertex Pharmaceuticals stock traded up $0.92 on Friday, hitting $401.08. 1,064,066 shares of the company’s stock traded hands, compared to its average volume of 1,004,237. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average is $409.06 and its 200 day moving average is $400.14. The stock has a market cap of $103.66 billion, a P/E ratio of 28.88, a PEG ratio of 1.89 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $320.01 and a 52-week high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business posted $3.33 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CAO Kristen Ambrose sold 1,374 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $577,409.76. Following the transaction, the chief accounting officer now owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,295 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the completion of the transaction, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kristen Ambrose sold 1,374 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $577,409.76. Following the sale, the chief accounting officer now directly owns 9,676 shares in the company, valued at approximately $4,066,242.24. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock worth $5,203,249 over the last ninety days. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on VRTX shares. Wolfe Research initiated coverage on Vertex Pharmaceuticals in a report on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. StockNews.com upgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday. Guggenheim lifted their price target on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.86.

About Vertex Pharmaceuticals

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.