Armstrong Advisory Group Inc. Sells 41 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Armstrong Advisory Group Inc. reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 42.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 56 shares of the pharmaceutical company’s stock after selling 41 shares during the period. Armstrong Advisory Group Inc.’s holdings in Vertex Pharmaceuticals were worth $26,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Annapolis Financial Services LLC bought a new stake in Vertex Pharmaceuticals during the first quarter worth about $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $31,000. Founders Capital Management lifted its holdings in shares of Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $39,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 0.6 %

Shares of NASDAQ VRTX opened at $484.82 on Tuesday. The stock has a market cap of $125.11 billion, a P/E ratio of 31.46 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. The firm has a 50-day moving average of $473.64 and a 200 day moving average of $458.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm earned $3.53 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VRTX. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. HC Wainwright increased their target price on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a report on Monday, August 5th. TD Cowen lifted their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Argus increased their price objective on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $489.30.

Insider Activity

In related news, CEO Reshma Kewalramani sold 15,202 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares in the company, valued at $52,767,484. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,487 shares of company stock worth $14,657,149 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

About Vertex Pharmaceuticals

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.