AMF Tjanstepension AB Increases Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• AMF Tjanstepension AB increased its stake in Vertex Pharmaceuticals by 6.1% in the 2nd quarter, bringing its total holdings to 64,705 shares valued at approximately $28.8 million.
• Institutional investors, including Activest Wealth Management and American National Bank & Trust, have significantly increased their positions in Vertex Pharmaceuticals, which now sees nearly 91% of its stock owned by such investors.
• Vertex Pharmaceuticals reported $4.52 earnings per share for the last quarter, exceeding analysts' expectations, with revenues up 11.3% year-over-year.

AMF Tjanstepension AB raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,705 shares of the pharmaceutical company's stock after acquiring an additional 3,710 shares during the period. AMF Tjanstepension AB's holdings in Vertex Pharmaceuticals were worth $28,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management purchased a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares during the period. Flaharty Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $32,000. American National Bank & Trust increased its holdings in shares of Vertex Pharmaceuticals by 515.4% in the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock valued at $36,000 after acquiring an additional 67 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Price Performance

VRTX opened at $403.30 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The stock has a market capitalization of $103.40 billion, a P/E ratio of 28.83 and a beta of 0.43. The business has a 50 day simple moving average of $399.12 and a 200-day simple moving average of $442.98.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the subject of a number of recent research reports. Raymond James Financial started coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a "market perform" rating for the company. Royal Bank Of Canada decreased their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Citigroup raised their price target on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a "buy" rating in a report on Thursday. HC Wainwright dropped their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $493.81.

Vertex Pharmaceuticals Company Profile

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.

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