InterOcean Capital Group LLC Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

InterOcean Capital Group LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 27.5% in the 1st quarter, HoldingsChannel reports. The firm owned 1,749 shares of the pharmaceutical company’s stock after acquiring an additional 377 shares during the quarter. InterOcean Capital Group LLC’s holdings in Vertex Pharmaceuticals were worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VRTX. Whittier Trust Co. grew its position in Vertex Pharmaceuticals by 40.8% during the fourth quarter. Whittier Trust Co. now owns 1,260 shares of the pharmaceutical company’s stock valued at $513,000 after buying an additional 365 shares during the period. Mutual Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 8.9% in the fourth quarter. Mutual Advisors LLC now owns 3,320 shares of the pharmaceutical company’s stock valued at $1,351,000 after purchasing an additional 271 shares during the period. HB Wealth Management LLC grew its position in shares of Vertex Pharmaceuticals by 7.6% in the fourth quarter. HB Wealth Management LLC now owns 3,902 shares of the pharmaceutical company’s stock valued at $1,588,000 after purchasing an additional 276 shares during the period. CoreCap Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 113.3% in the fourth quarter. CoreCap Advisors LLC now owns 1,493 shares of the pharmaceutical company’s stock valued at $607,000 after purchasing an additional 793 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $4,210,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.3 %

Shares of Vertex Pharmaceuticals stock traded up $1.46 on Thursday, reaching $492.26. The company had a trading volume of 988,617 shares, compared to its average volume of 1,210,873. The firm’s 50 day moving average price is $472.14 and its two-hundred day moving average price is $436.37. The firm has a market cap of $127.03 billion, a PE ratio of 31.85, a PEG ratio of 2.52 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $340.20 and a 52-week high of $503.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.67 EPS. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The disclosure for this sale can be found here. Insiders have sold a total of 48,128 shares of company stock valued at $22,839,005 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BMO Capital Markets lifted their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Oppenheimer reiterated an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Wells Fargo & Company lifted their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Piper Sandler boosted their price target on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Cantor Fitzgerald boosted their price target on shares of Vertex Pharmaceuticals from $440.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $460.30.

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.