Foster Victor Wealth Advisors LLC Has $10.07 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Foster Victor Wealth Advisors LLC lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 29.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,526 shares of the pharmaceutical company’s stock after selling 9,061 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $10,074,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VRTX. First Pacific Financial grew its position in Vertex Pharmaceuticals by 5.8% in the third quarter. First Pacific Financial now owns 978 shares of the pharmaceutical company’s stock worth $455,000 after acquiring an additional 54 shares in the last quarter. Peak Financial Management Inc. grew its position in Vertex Pharmaceuticals by 28.3% in the third quarter. Peak Financial Management Inc. now owns 680 shares of the pharmaceutical company’s stock worth $316,000 after acquiring an additional 150 shares in the last quarter. RDA Financial Network grew its position in Vertex Pharmaceuticals by 7.6% in the third quarter. RDA Financial Network now owns 7,392 shares of the pharmaceutical company’s stock worth $3,438,000 after acquiring an additional 523 shares in the last quarter. Zhang Financial LLC grew its position in Vertex Pharmaceuticals by 3.2% in the third quarter. Zhang Financial LLC now owns 4,035 shares of the pharmaceutical company’s stock worth $1,876,000 after acquiring an additional 127 shares in the last quarter. Finally, NBC Securities Inc. grew its position in Vertex Pharmaceuticals by 34.5% in the third quarter. NBC Securities Inc. now owns 160 shares of the pharmaceutical company’s stock worth $74,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $484.30 on Wednesday. The company has a 50-day moving average of $473.84 and a 200-day moving average of $458.61. The company has a market capitalization of $124.98 billion, a price-to-earnings ratio of 31.43 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data 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 business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business posted $3.53 earnings per share. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on VRTX. Redburn Atlantic began coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, October 8th. HC Wainwright upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $489.30.

Insider Activity at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at $52,767,484. This trade represents 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 related news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at $52,767,484. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the completion of the sale, the chief marketing officer now owns 25,539 shares of the company’s stock, valued at $12,474,779.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,487 shares of company stock valued at $14,657,149 in the last ninety days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals 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.