Icon Wealth Advisors LLC Invests $1.09 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Icon Wealth Advisors LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,685 shares of the pharmaceutical company’s stock, valued at approximately $1,092,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 1.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after purchasing an additional 24 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of Vertex Pharmaceuticals by 3.9% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after purchasing an additional 24 shares in the last quarter. Hohimer Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 0.8% in the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after purchasing an additional 24 shares in the last quarter. Johnson Financial Group Inc. grew its stake in Vertex Pharmaceuticals by 2.5% during the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after acquiring an additional 24 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC grew its stake in Vertex Pharmaceuticals by 3.2% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock valued at $326,000 after acquiring an additional 25 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Down 1.0 %

VRTX stock traded down $4.74 during trading on Tuesday, hitting $478.54. The company had a trading volume of 112,238 shares, compared to its average volume of 1,216,545. The firm has a market capitalization of $123.49 billion, a P/E ratio of 31.36, a PEG ratio of 2.48 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $331.87 and a 52-week high of $486.42. The company has a 50 day simple moving average of $424.38 and a 200-day simple moving average of $415.24. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping the consensus estimate of $3.66 by $1.10. The company 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 firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.67 EPS. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Charles F. Wagner, Jr. sold 3,250 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $454.79, for a total value of $1,478,067.50. Following the transaction, the chief financial officer now owns 50,387 shares of the company’s stock, valued at approximately $22,915,503.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reshma Kewalramani sold 1,565 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the transaction, the chief executive officer now directly owns 121,374 shares in the company, valued at approximately $55,467,918. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,518 shares of company stock valued at $7,409,762. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VRTX. Guggenheim raised their target price on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $440.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Royal Bank of Canada cut their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research note on Tuesday. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 4th. Finally, BMO Capital Markets increased their price objective on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $438.48.

Get Our Latest Stock Report on Vertex Pharmaceuticals

About Vertex Pharmaceuticals

(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.

See Also

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

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