Tealwood Asset Management Inc. Buys Shares of 3,613 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tealwood Asset Management Inc. purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,613 shares of the pharmaceutical company’s stock, valued at approximately $1,680,000.

A number of other hedge funds have also recently made changes to their positions in the stock. MBM Wealth Consultants LLC grew its position in shares of Vertex Pharmaceuticals by 6.7% in the 3rd quarter. MBM Wealth Consultants LLC now owns 2,540 shares of the pharmaceutical company’s stock worth $1,181,000 after buying an additional 159 shares during the last quarter. Kesler Norman & Wride LLC purchased a new position in Vertex Pharmaceuticals in the third quarter worth $699,000. Mather Group LLC. increased its position in shares of Vertex Pharmaceuticals by 2.0% during the third quarter. Mather Group LLC. now owns 4,015 shares of the pharmaceutical company’s stock worth $1,867,000 after purchasing an additional 80 shares in the last quarter. New England Research & Management Inc. increased its position in shares of Vertex Pharmaceuticals by 67.3% during the third quarter. New England Research & Management Inc. now owns 4,575 shares of the pharmaceutical company’s stock worth $2,128,000 after purchasing an additional 1,840 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 14.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 5,816 shares of the pharmaceutical company’s stock valued at $2,705,000 after purchasing an additional 756 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,767 shares of company stock worth $15,768,284 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on VRTX shares. Oppenheimer upped their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. HC Wainwright upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada lowered their target price on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a research note on Friday. StockNews.com lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Three equities research 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $486.95.

Vertex Pharmaceuticals Stock Performance

VRTX traded up $5.97 on Tuesday, reaching $454.57. The stock had a trading volume of 543,396 shares, compared to its average volume of 1,175,734. The business’s 50-day moving average price is $475.76 and its two-hundred day moving average price is $456.14. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The company has a market cap of $117.32 billion, a P/E ratio of 29.54 and a beta of 0.40.

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

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.