Peloton Wealth Strategists Buys 1,165 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Peloton Wealth Strategists raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,040 shares of the pharmaceutical company’s stock after acquiring an additional 1,165 shares during the period. Vertex Pharmaceuticals comprises approximately 1.6% of Peloton Wealth Strategists’ investment portfolio, making the stock its 22nd largest holding. Peloton Wealth Strategists’ holdings in Vertex Pharmaceuticals were worth $4,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Motiv8 Investments LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $26,000. Swiss RE Ltd. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $29,000. IMG Wealth Management Inc. increased its position in shares of Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 50 shares during the last quarter. Finally, Colonial Trust Co SC increased its position in shares of Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 1,745 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $450.00, for a total value of $785,250.00. Following the completion of the sale, the chief marketing officer owned 21,015 shares of the company’s stock, valued at approximately $9,456,750. This trade represents a 7.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the sale, the executive vice president directly owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their position. 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. In the last 90 days, insiders sold 11,133 shares of company stock valued at $4,973,106. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VRTX. Citigroup raised their target price on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Bank of America raised their target price on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Sanford C. Bernstein decreased their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Truist Financial began coverage on Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They set a “buy” rating and a $542.00 target price for the company. Finally, Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $555.91.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $453.17 on Wednesday. The business has a 50-day moving average of $437.67 and a 200 day moving average of $452.82. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92. The firm has a market cap of $115.01 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 1.93 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share 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 company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm posted $4.06 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.