Madison Asset Management LLC Boosts Stake in Vertex Pharmaceuticals Incorporated $VRTX

Madison Asset Management LLC grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 66.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,387 shares of the pharmaceutical company’s stock after acquiring an additional 10,952 shares during the quarter. Madison Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $12,229,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares during the period. Gamco Investors INC. ET AL bought a new position in Vertex Pharmaceuticals during the 2nd quarter valued at $228,000. NewEdge Advisors LLC grew its holdings in Vertex Pharmaceuticals by 9.0% during the 2nd quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after acquiring an additional 986 shares in the last quarter. ICW Investment Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 5.0% in the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after purchasing an additional 29 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in shares of Vertex Pharmaceuticals by 26.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after purchasing an additional 1,518 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 0.3%

Shares of NASDAQ:VRTX opened at $482.00 on Wednesday. The firm’s 50 day moving average is $464.12 and its two-hundred day moving average is $459.39. The firm has a market capitalization of $122.33 billion, a P/E ratio of 28.59, a PEG ratio of 2.09 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm posted $4.06 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. UBS Group lifted their target price on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Barclays lifted their price objective on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Sanford C. Bernstein dropped their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $559.61.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director owned 4,924 shares in the company, valued at $2,086,446.52. This represents a 6.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the transaction, the executive vice president directly owned 20,729 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 18,874 shares of company stock valued at $8,707,966. Company insiders own 0.20% of the company’s stock.

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.