Puzo Michael J Makes New Investment in Vertex Pharmaceuticals Incorporated $VRTX

Puzo Michael J acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,907 shares of the pharmaceutical company’s stock, valued at approximately $7,901,000. Vertex Pharmaceuticals makes up 2.0% of Puzo Michael J’s holdings, making the stock its 21st largest position.

Several other institutional investors and hedge funds have also modified their holdings of VRTX. BlackRock Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $11,975,849,000. Capital Research Global Investors raised its position in Vertex Pharmaceuticals by 4.6% in the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock valued at $7,850,544,000 after purchasing an additional 763,063 shares during the last quarter. State Street Corp boosted its stake in Vertex Pharmaceuticals by 0.7% in the fourth quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock worth $5,299,569,000 after purchasing an additional 83,539 shares in the last quarter. Capital International Investors boosted its stake in Vertex Pharmaceuticals by 0.9% in the fourth quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock worth $2,146,041,000 after purchasing an additional 44,537 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Vertex Pharmaceuticals by 49.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after purchasing an additional 1,109,200 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $552.06 on Thursday. The stock has a market cap of $140.11 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.19 and a beta of 0.30. The stock has a 50-day moving average of $488.69 and a 200-day moving average of $464.85. Vertex Pharmaceuticals Incorporated has a one year low of $374.17 and a one year high of $553.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.52 EPS. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the transaction, the chief marketing officer owned 15,337 shares in the company, valued at approximately $7,400,102.50. This represents a 3.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 10,464 shares of company stock worth $4,959,397. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VRTX shares. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Truist Financial raised their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. TD Cowen boosted their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus set a $500.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $563.50.

Vertex Pharmaceuticals 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.