KMG Fiduciary Partners LLC Purchases Shares of 511 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

KMG Fiduciary Partners LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 511 shares of the pharmaceutical company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock valued at $11,406,667,000 after buying an additional 1,514,993 shares during the period. Vanguard Group Inc. grew its holdings in Vertex Pharmaceuticals by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock valued at $9,366,113,000 after buying an additional 98,654 shares during the period. Capital Research Global Investors grew its holdings in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock valued at $4,199,713,000 after buying an additional 1,426,746 shares during the period. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 23.3% in the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after buying an additional 1,117,214 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in Vertex Pharmaceuticals by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock valued at $1,519,302,000 after buying an additional 704,575 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $450.50 on Monday. The business’s 50 day moving average is $465.01 and its two-hundred day moving average is $460.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a market cap of $115.69 billion, a price-to-earnings ratio of -204.77, a PEG ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $4.76 earnings per share. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VRTX shares. Leerink Partners reiterated a “market perform” rating and set a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wolfe Research cut Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 7th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Finally, Scotiabank decreased their target price on Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $515.04.

Vertex Pharmaceuticals Company 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.