Peloton Wealth Strategists Buys 1,165 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Peloton Wealth Strategists grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,040 shares of the pharmaceutical company’s stock after buying an additional 1,165 shares during the period. Vertex Pharmaceuticals accounts for approximately 1.6% of Peloton Wealth Strategists’ portfolio, making the stock its 22nd largest holding. Peloton Wealth Strategists’ holdings in Vertex Pharmaceuticals were worth $4,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Brighton Jones LLC increased its position in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after buying an additional 579 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $228,000. NewEdge Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 9.0% during the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after buying an additional 986 shares during the period. ICW Investment Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 5.0% during the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock valued at $269,000 after buying an additional 29 shares during the period. Finally, Diversify Advisory Services LLC grew its holdings in shares of Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after purchasing an additional 1,518 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VRTX has been the subject of several recent analyst reports. Barclays boosted their price objective on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada boosted their price objective on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Truist Financial initiated coverage on Vertex Pharmaceuticals in a report on Wednesday, May 27th. They set a “buy” rating and a $542.00 price objective for the company. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $555.91.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 1,745 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $450.00, for a total value of $785,250.00. Following the completion of the sale, the chief marketing officer owned 21,015 shares in the company, valued at $9,456,750. The trade was a 7.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares of the company’s stock, valued at $8,810,239.58. The trade was a 5.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,133 shares of company stock worth $4,973,106 in the last quarter. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Up 0.6%

Shares of NASDAQ VRTX opened at $453.17 on Wednesday. The business has a 50-day moving average of $437.67 and a 200-day moving average of $452.82. The firm has a market capitalization of $115.01 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 1.93 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.Vertex Pharmaceuticals’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.06 EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Vertex Pharmaceuticals Company Profile

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.