Foster Victor Wealth Advisors LLC Sells 3,183 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Foster Victor Wealth Advisors LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,587 shares of the pharmaceutical company’s stock after selling 3,183 shares during the quarter. Vertex Pharmaceuticals comprises approximately 1.1% of Foster Victor Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Foster Victor Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $14,956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of VRTX. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals during the first quarter worth $27,000. ICA Group Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $28,000. Founders Capital Management increased its holdings in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $33,000. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, HC Wainwright upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $485.91.

Vertex Pharmaceuticals Stock Up 1.1 %

Shares of NASDAQ:VRTX traded up $5.37 on Friday, hitting $477.37. 1,181,337 shares of the company traded hands, compared to its average volume of 1,219,119. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 52 week low of $340.83 and a 52 week high of $510.64. The company has a market cap of $123.21 billion, a PE ratio of 30.98 and a beta of 0.39. The stock has a 50 day simple moving average of $480.54 and a 200-day simple moving average of $442.24.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $3.53 EPS. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,703 shares of company stock worth $26,615,855. 0.20% of the stock is currently 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.