SYSTM Wealth Solutions LLC Sells 1,140 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

SYSTM Wealth Solutions LLC reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 86.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 174 shares of the pharmaceutical company’s stock after selling 1,140 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Vertex Pharmaceuticals were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Groesbeck Investment Management Corp NJ lifted its position in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. lifted its position in Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after purchasing an additional 22 shares during the period. Drive Wealth Management LLC grew its stake in Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after buying an additional 22 shares in the last quarter. RFP Financial Group LLC increased its holdings in Vertex Pharmaceuticals by 17.0% in the 2nd quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock valued at $74,000 after buying an additional 23 shares during the period. Finally, Hohimer Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals by 0.8% in the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VRTX shares. TD Cowen lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $472.00 to $509.00 in a report on Monday, August 5th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Finally, Guggenheim increased their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $486.36.

Vertex Pharmaceuticals Stock Up 0.8 %

Shares of VRTX opened at $477.90 on Friday. The stock’s 50-day moving average price is $483.14 and its two-hundred day moving average price is $451.58. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64. The company has a market capitalization of $123.32 billion, a PE ratio of 31.01 and a beta of 0.40. 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 (NASDAQ:VRTX) last announced its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company earned $3.53 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares in the company, valued at $52,767,484. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The disclosure for this sale can be found here. Insiders sold a total of 34,047 shares of company stock worth $16,843,806 over the last three months. 0.20% of the stock is owned by company insiders.

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.