NewEdge Wealth LLC Has $16.69 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

NewEdge Wealth LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,447 shares of the pharmaceutical company’s stock after purchasing an additional 1,297 shares during the period. NewEdge Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $16,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the third quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $33,000. Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $30,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $35,000. 90.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.3 %

Shares of Vertex Pharmaceuticals stock opened at $479.10 on Thursday. The firm has a market cap of $123.03 billion, a price-to-earnings ratio of -217.77, a PEG ratio of 2.11 and a beta of 0.41. The stock’s 50-day moving average is $437.18 and its 200 day moving average is $460.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on VRTX. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research report on Thursday, January 30th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Bank of America cut their price objective on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals 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.