710 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Ledyard National Bank

Ledyard National Bank purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 710 shares of the pharmaceutical company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Paradigm Financial Partners LLC increased its position in Vertex Pharmaceuticals by 2.1% during the 2nd quarter. Paradigm Financial Partners LLC now owns 1,446 shares of the pharmaceutical company’s stock valued at $509,000 after purchasing an additional 30 shares during the period. Grandfield & Dodd LLC lifted its holdings in Vertex Pharmaceuticals by 0.3% in the second quarter. Grandfield & Dodd LLC now owns 9,018 shares of the pharmaceutical company’s stock worth $3,174,000 after buying an additional 30 shares during the period. Davidson Capital Management Inc. grew its holdings in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Davidson Capital Management Inc. now owns 4,993 shares of the pharmaceutical company’s stock worth $1,757,000 after acquiring an additional 31 shares during the period. Grove Bank & Trust raised its position in shares of Vertex Pharmaceuticals by 6.2% in the 1st quarter. Grove Bank & Trust now owns 550 shares of the pharmaceutical company’s stock worth $173,000 after acquiring an additional 32 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Vertex Pharmaceuticals by 7.7% in the 1st quarter. Parkside Financial Bank & Trust now owns 461 shares of the pharmaceutical company’s stock valued at $145,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 11,250 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $385.00, for a total value of $4,331,250.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $15,400,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Bruce I. Sachs sold 11,250 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $385.00, for a total value of $4,331,250.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $15,400,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sangeeta N. Bhatia sold 243 shares of the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $375.00, for a total value of $91,125.00. Following the completion of the transaction, the director now directly owns 3,901 shares of the company’s stock, valued at approximately $1,462,875. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,411 shares of company stock worth $18,511,525. Company insiders own 0.30% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded down $1.62 during mid-day trading on Thursday, reaching $347.72. 602,016 shares of the company’s stock traded hands, compared to its average volume of 1,179,248. Vertex Pharmaceuticals Incorporated has a 12 month low of $282.21 and a 12 month high of $387.42. The firm has a 50 day moving average price of $360.15 and a two-hundred day moving average price of $350.61. The firm has a market capitalization of $89.60 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.58 and a beta of 0.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.89 and a current ratio of 4.08.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 6th. The pharmaceutical company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.53 by $0.55. Vertex Pharmaceuticals had a return on equity of 22.79% and a net margin of 35.94%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business posted $3.62 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 13.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Vertex Pharmaceuticals from $410.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Canaccord Genuity Group upped their price target on Vertex Pharmaceuticals from $312.00 to $315.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. Barclays upped their price target on shares of Vertex Pharmaceuticals from $384.00 to $399.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. BMO Capital Markets upped their price objective on Vertex Pharmaceuticals from $389.00 to $415.00 and gave the company an “outperform” rating in a research report on Tuesday, November 7th. Finally, Morgan Stanley lifted their target price on Vertex Pharmaceuticals from $359.00 to $364.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $376.13.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.