Sunbelt Securities Inc. Has $731,000 Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sunbelt Securities Inc. grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 47.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,749 shares of the pharmaceutical company’s stock after purchasing an additional 561 shares during the quarter. Sunbelt Securities Inc.’s holdings in Vertex Pharmaceuticals were worth $731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $25,000. Arlington Trust Co LLC boosted its stake in Vertex Pharmaceuticals by 97.1% during the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth $30,000. Finally, Baystate Wealth Management LLC boosted its position 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 worth $31,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Down 0.3 %

Shares of NASDAQ:VRTX opened at $472.51 on Friday. The company has a 50-day simple moving average of $441.82 and a 200 day simple moving average of $425.06. The company has a market capitalization of $121.93 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 2.44 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. Vertex Pharmaceuticals Incorporated has a 52-week low of $335.82 and a 52-week high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its 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. 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 the consensus estimate of $2.58 billion. During the same period in the previous year, the company posted $2.67 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. HC Wainwright reiterated a “buy” rating and set a $462.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Argus increased their target price on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. 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 research note on Thursday, April 18th. Finally, Oppenheimer reissued an “outperform” rating and set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 2,350 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the sale, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Ourania Tatsis sold 2,350 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the sale, the executive vice president now directly owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. Insiders have sold a total of 26,086 shares of company stock worth $11,983,266 over the last ninety days. Insiders own 0.20% of the company’s stock.

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.