Moody National Bank Trust Division Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Moody National Bank Trust Division cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 11.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,302 shares of the pharmaceutical company’s stock after selling 794 shares during the quarter. Moody National Bank Trust Division’s holdings in Vertex Pharmaceuticals were worth $1,644,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Concord Wealth Partners increased its position in shares of Vertex Pharmaceuticals by 750.0% in the fourth quarter. Concord Wealth Partners now owns 119 shares of the pharmaceutical company’s stock valued at $26,000 after buying an additional 105 shares in the last quarter. First PREMIER Bank purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $27,000. JJJ Advisors Inc. increased its position in shares of Vertex Pharmaceuticals by 101.5% in the fourth quarter. JJJ Advisors Inc. now owns 133 shares of the pharmaceutical company’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. Trustcore Financial Services LLC increased its position in shares of Vertex Pharmaceuticals by 53.8% in the fourth quarter. Trustcore Financial Services LLC now owns 143 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 50 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 89.84% of the company’s stock.

In other Vertex Pharmaceuticals news, CFO Charles F. Wagner, Jr. sold 2,582 shares of the company’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $264.76, for a total transaction of $683,610.32. Following the sale, the chief financial officer now owns 43,620 shares in the company, valued at approximately $11,548,831.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Margaret G. Mcglynn sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $262.27, for a total value of $1,311,350.00. Following the sale, the director now owns 1,099 shares in the company, valued at approximately $288,234.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,683 shares of company stock worth $10,227,645. Corporate insiders own 0.40% of the company’s stock.

A number of analysts have recently commented on VRTX shares. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a research report on Wednesday, June 1st. SVB Leerink initiated coverage on Vertex Pharmaceuticals in a research report on Monday, May 23rd. They set a “market perform” rating and a $265.00 price target for the company. Robert W. Baird cut Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $250.00 price target for the company. in a research report on Friday, May 6th. Cowen boosted their price target on Vertex Pharmaceuticals from $305.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, June 13th. Finally, Wells Fargo & Company boosted their price target on Vertex Pharmaceuticals from $300.00 to $305.00 in a research report on Friday, May 6th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $282.61.

Shares of Vertex Pharmaceuticals stock opened at $272.31 on Thursday. Vertex Pharmaceuticals Incorporated has a 52 week low of $176.36 and a 52 week high of $292.75. The business’s fifty day simple moving average is $264.63 and its 200-day simple moving average is $246.16. The firm has a market cap of $69.64 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.94 and a beta of 0.55. The company has a quick ratio of 4.60, a current ratio of 4.75 and a debt-to-equity ratio of 0.05.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The pharmaceutical company reported $3.16 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.01). Vertex Pharmaceuticals had a net margin of 30.84% and a return on equity of 32.24%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company earned $2.54 EPS. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 12.47 earnings per share for the current year.

Vertex Pharmaceuticals Profile (Get Rating)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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