Foster Victor Wealth Advisors LLC Has $13.66 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Foster Victor Wealth Advisors LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 33.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,857 shares of the pharmaceutical company’s stock after acquiring an additional 8,493 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $13,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clarity Financial LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at about $253,000. Independence Bank of Kentucky grew its position in shares of Vertex Pharmaceuticals by 45.1% in the third quarter. Independence Bank of Kentucky now owns 836 shares of the pharmaceutical company’s stock valued at $327,000 after purchasing an additional 260 shares during the last quarter. Baker Tilly Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 5.9% during the third quarter. Baker Tilly Wealth Management LLC now owns 3,081 shares of the pharmaceutical company’s stock worth $1,207,000 after purchasing an additional 173 shares during the period. AdvisorNet Financial Inc lifted its holdings in Vertex Pharmaceuticals by 31.4% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,199 shares of the pharmaceutical company’s stock worth $861,000 after purchasing an additional 525 shares during the last quarter. Finally, Centurion Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 16.8% in the 3rd quarter. Centurion Wealth Management LLC now owns 585 shares of the pharmaceutical company’s stock valued at $229,000 after purchasing an additional 84 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VRTX shares. Morgan Stanley set a $564.00 target price on Vertex Pharmaceuticals in a report on Friday, December 5th. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating for the company. Stifel Nicolaus cut their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Scotiabank started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 target price on the stock. Finally, Leerink Partners upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price target for the company from $458.00 to $456.00 in a research note on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $498.42.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the transaction, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. This represents a 72.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the sale, the executive vice president directly owned 37,725 shares in the company, valued at approximately $17,202,600. The trade was a 27.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 151,073 shares of company stock valued at $67,326,816. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $456.20 on Friday. The firm has a 50 day simple moving average of $430.64 and a two-hundred day simple moving average of $425.87. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The company has a market cap of $115.75 billion, a P/E ratio of 32.17 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the company posted $4.38 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.