RDA Financial Network Purchases 523 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

RDA Financial Network grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,392 shares of the pharmaceutical company’s stock after buying an additional 523 shares during the quarter. Vertex Pharmaceuticals makes up about 1.1% of RDA Financial Network’s investment portfolio, making the stock its 21st biggest position. RDA Financial Network’s holdings in Vertex Pharmaceuticals were worth $3,438,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Zhang Financial LLC boosted its position in Vertex Pharmaceuticals by 3.2% in the 3rd quarter. Zhang Financial LLC now owns 4,035 shares of the pharmaceutical company’s stock valued at $1,876,000 after buying an additional 127 shares during the last quarter. NBC Securities Inc. increased its holdings in Vertex Pharmaceuticals by 34.5% in the third quarter. NBC Securities Inc. now owns 160 shares of the pharmaceutical company’s stock valued at $74,000 after purchasing an additional 41 shares during the last quarter. Occidental Asset Management LLC boosted its holdings in Vertex Pharmaceuticals by 51.7% during the third quarter. Occidental Asset Management LLC now owns 695 shares of the pharmaceutical company’s stock worth $323,000 after buying an additional 237 shares during the last quarter. Creative Planning boosted its holdings in Vertex Pharmaceuticals by 1.7% during the third quarter. Creative Planning now owns 80,467 shares of the pharmaceutical company’s stock worth $37,424,000 after buying an additional 1,350 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in Vertex Pharmaceuticals by 5.7% during the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Reshma Kewalramani sold 15,202 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,487 shares of company stock worth $14,657,149. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on VRTX shares. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Bank of America cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday. Redburn Atlantic initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective on the stock. Guggenheim upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada dropped their price target on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $489.30.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $0.82 during mid-day trading on Tuesday, hitting $484.00. 823,390 shares of the company were exchanged, compared to its average volume of 1,173,327. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $510.64. The stock has a market capitalization of $124.90 billion, a PE ratio of 31.46 and a beta of 0.40. The business has a 50 day simple moving average of $473.64 and a 200-day simple moving average of $458.14. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm earned $3.53 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

About Vertex Pharmaceuticals

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.