Joseph Group Capital Management Has $3.46 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Joseph Group Capital Management lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,126 shares of the pharmaceutical company’s stock after acquiring an additional 704 shares during the period. Vertex Pharmaceuticals makes up 1.3% of Joseph Group Capital Management’s portfolio, making the stock its 26th largest holding. Joseph Group Capital Management’s holdings in Vertex Pharmaceuticals were worth $3,455,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors boosted its stake in Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock worth $11,406,667,000 after buying an additional 1,514,993 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock valued at $9,366,113,000 after acquiring an additional 98,654 shares during the period. Capital Research Global Investors lifted its holdings in shares of Vertex Pharmaceuticals by 15.8% during the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock valued at $4,199,713,000 after acquiring an additional 1,426,746 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Vertex Pharmaceuticals by 23.3% during the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after acquiring an additional 1,117,214 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Vertex Pharmaceuticals by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock valued at $1,519,302,000 after acquiring an additional 704,575 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.1%

NASDAQ:VRTX opened at $479.53 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $448.35 and a two-hundred day moving average price of $459.98. The company has a market cap of $123.14 billion, a P/E ratio of -122.33 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the company earned $4.76 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $420.00 price target on Vertex Pharmaceuticals and gave the company a “sector perform” rating in a report on Tuesday, June 17th. Erste Group Bank cut Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Scotiabank cut their price target on Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $511.62.

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.