Carolinas Wealth Consulting LLC Sells 56 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Carolinas Wealth Consulting LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 49.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 57 shares of the pharmaceutical company’s stock after selling 56 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Vertex Pharmaceuticals were worth $27,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $25,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $27,000. Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $31,000. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In related news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $487.34, for a total transaction of $1,111,135.20. Following the completion of the sale, the chief marketing officer now directly owns 27,819 shares in the company, valued at approximately $13,557,311.46. The disclosure for this sale can be found here. Insiders sold 34,047 shares of company stock valued at $16,843,806 over the last quarter. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $431.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, HC Wainwright increased their target price on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $486.36.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $477.90 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64. The stock has a market cap of $123.32 billion, a PE ratio of 31.01 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The firm’s fifty day moving average price is $483.14 and its two-hundred day moving average price is $451.58.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. During the same period in the previous year, the company earned $3.53 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

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.