2,409 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Formuepleje A S

Key Points

• Formuepleje A S purchased 2,409 Vertex Pharmaceuticals shares worth approximately $1.2 million during the second quarter. Institutional investors collectively own 90.96% of VRTX.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and above estimates, while EPS of $4.73 narrowly missed the $4.74 consensus.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $569.52; however, insiders sold 8,719 shares worth about $4.17 million over the past quarter.

Formuepleje A S bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,409 shares of the pharmaceutical company's stock, valued at approximately $1,197,000.

Several other large investors have also recently made changes to their positions in the company. Motiv8 Investments LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at about $26,000. Community Financial Services Group LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $26,000. Elevation Wealth Partners LLC boosted its holdings in shares of Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 28 shares during the last quarter. Finally, Swiss RE Ltd. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $28,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 1,500 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares of the company's stock, valued at $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan McKechnie sold 1,541 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the sale, the executive vice president directly owned 11,001 shares of the company's stock, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 8,719 shares of company stock valued at $4,174,147. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $546.12 on Monday. Vertex Pharmaceuticals Incorporated has a 52 week low of $374.17 and a 52 week high of $560.25. The stock has a market capitalization of $138.61 billion, a PE ratio of 31.79, a P/E/G ratio of 2.37 and a beta of 0.32. The firm has a 50 day moving average of $509.50 and a two-hundred day moving average of $471.33.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the firm posted $4.52 earnings per share. The business's quarterly revenue was up 12.5% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post 16.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on VRTX shares. Truist Financial raised their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. UBS Group boosted their price target on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research report on Monday, July 13th. TD Cowen upped their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Royal Bank Of Canada raised their price objective on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald lifted their target price on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $569.52.

Vertex Pharmaceuticals Profile

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.

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