Ballentine Partners LLC Has $2.04 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Ballentine Partners LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,878 shares of the pharmaceutical company’s stock after purchasing an additional 309 shares during the quarter. Ballentine Partners LLC’s holdings in Vertex Pharmaceuticals were worth $2,039,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $25,000. Arlington Trust Co LLC increased its stake in shares of Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $28,000. Fortitude Family Office LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at $30,000. Finally, Baystate Wealth Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the sale, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at approximately $15,477,162. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 121,374 shares in the company, valued at approximately $55,467,918. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $1,089,840.00. Following the sale, the chief marketing officer now owns 32,379 shares of the company’s stock, valued at $15,477,162. The disclosure for this sale can be found here. Insiders have sold a total of 26,086 shares of company stock valued at $11,983,266 in the last three months. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded up $2.92 during trading hours on Monday, reaching $471.63. The stock had a trading volume of 53,123 shares, compared to its average volume of 1,220,230. The stock has a 50-day simple moving average of $437.05 and a 200 day simple moving average of $422.99. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $335.82 and a fifty-two week high of $486.42. The stock has a market capitalization of $121.70 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 2.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm posted $2.67 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $462.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Canaccord Genuity Group reiterated a “sell” rating and issued a $371.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and issued a $500.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Finally, Royal Bank of Canada lowered their price objective on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $444.23.

Vertex Pharmaceuticals Company Profile

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.