Barlow Wealth Partners Inc. Purchases 865 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Barlow Wealth Partners Inc. increased its holdings in Vertex Pharmaceuticals by 1.7%, acquiring an additional 865 shares, bringing its total to 50,958 shares valued at approximately $23.3 million.
• Several institutional investors also significantly added to their stakes in Vertex Pharmaceuticals, with Price T Rowe Associates Inc. MD growing its holdings by 72.5% during the first quarter.
• Vertex Pharmaceuticals reported Q2 earnings of $4.52 per share, exceeding estimates, with a revenue increase of 11.3% year-over-year, totaling $2.94 billion.

Barlow Wealth Partners Inc. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,958 shares of the pharmaceutical company's stock after acquiring an additional 865 shares during the quarter. Vertex Pharmaceuticals comprises 2.8% of Barlow Wealth Partners Inc.'s investment portfolio, making the stock its 13th largest holding. Barlow Wealth Partners Inc.'s holdings in Vertex Pharmaceuticals were worth $23,289,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock valued at $1,414,331,000 after buying an additional 1,226,527 shares in the last quarter. Nuveen LLC purchased a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $484,053,000. Jennison Associates LLC grew its holdings in Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after buying an additional 744,680 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company's stock valued at $860,650,000 after buying an additional 398,460 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in Vertex Pharmaceuticals by 456.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company's stock valued at $209,347,000 after buying an additional 354,269 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on VRTX shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Guggenheim dropped their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Morgan Stanley dropped their price target on Vertex Pharmaceuticals from $439.00 to $438.00 and set an "equal weight" rating for the company in a research report on Friday, October 10th. Finally, Evercore ISI dropped their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. One 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $494.38.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $407.90 on Thursday. The business has a 50 day moving average of $393.80 and a 200 day moving average of $437.75. The company has a market capitalization of $104.58 billion, a price-to-earnings ratio of 29.16 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88.

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, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company posted ($12.83) earnings per share. The business's revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.

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