Diversify Wealth Management LLC Raises Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Diversify Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 160.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,773 shares of the pharmaceutical company’s stock after acquiring an additional 6,027 shares during the quarter. Diversify Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Hall Laurie J Trustee lifted its stake in shares of Vertex Pharmaceuticals by 8.0% in the 4th quarter. Hall Laurie J Trustee now owns 5,143 shares of the pharmaceutical company’s stock valued at $2,071,000 after purchasing an additional 383 shares during the last quarter. Grove Bank & Trust raised its holdings in Vertex Pharmaceuticals by 15.4% in the 4th quarter. Grove Bank & Trust now owns 473 shares of the pharmaceutical company’s stock valued at $190,000 after buying an additional 63 shares during the period. Oak Ridge Investments LLC lifted its position in Vertex Pharmaceuticals by 4.4% in the fourth quarter. Oak Ridge Investments LLC now owns 1,908 shares of the pharmaceutical company’s stock valued at $768,000 after buying an additional 81 shares during the last quarter. J2 Capital Management Inc purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $270,000. Finally, HB Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals by 4.7% during the fourth quarter. HB Wealth Management LLC now owns 8,767 shares of the pharmaceutical company’s stock valued at $3,530,000 after acquiring an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on VRTX. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Scotiabank raised their price target on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a “sector perform” rating in a research report on Monday, December 23rd. Royal Bank of Canada boosted their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $490.38.

Vertex Pharmaceuticals Stock Up 1.2 %

Shares of VRTX opened at $422.00 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The firm has a fifty day moving average price of $440.94 and a 200 day moving average price of $466.09.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 EPS. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current fiscal year.

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.