Country Trust Bank Increases Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Country Trust Bank grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,532 shares of the pharmaceutical company’s stock after acquiring an additional 8,396 shares during the quarter. Country Trust Bank’s holdings in Vertex Pharmaceuticals were worth $38,589,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Chesapeake Asset Management LLC increased its stake in Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after purchasing an additional 33 shares in the last quarter. Access Investment Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at $29,000. Total Investment Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $33,000. Finally, Financial Network Wealth Advisors LLC raised its stake in Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the transaction, the chairman owned 24,026 shares in the company, valued at approximately $10,792,479.20. This represents a 72.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,202,600. This trade represents a 27.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 165,105 shares of company stock valued at $73,858,523. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Price Performance

VRTX opened at $438.92 on Friday. The firm has a fifty day moving average price of $445.95 and a 200 day moving average price of $427.49. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The stock has a market cap of $111.36 billion, a P/E ratio of 30.95 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the company earned $4.38 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Stifel Nicolaus decreased their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $503.80.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.