First National Bank of Mount Dora Trust Investment Services Has $5.53 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

First National Bank of Mount Dora Trust Investment Services grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 33.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,879 shares of the pharmaceutical company’s stock after acquiring an additional 2,998 shares during the quarter. Vertex Pharmaceuticals comprises 1.3% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 29th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Vertex Pharmaceuticals were worth $5,525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at about $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth $31,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Royal Bank of Canada lowered their price target on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Guggenheim boosted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. UBS Group raised their price target on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, HC Wainwright restated a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $492.50.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded up $1.21 during midday trading on Monday, reaching $472.33. 160,756 shares of the stock traded hands, compared to its average volume of 1,162,048. The company’s 50 day moving average is $474.53 and its 200 day moving average is $465.46. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. The stock has a market capitalization of $121.91 billion, a PE ratio of -232.08 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.53 earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,710 shares of company stock valued at $3,298,206. Company insiders own 0.20% of the company’s stock.

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.