Bowen Hanes & Co. Inc. Has $86.74 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

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Bowen Hanes & Co. Inc. reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,909 shares of the pharmaceutical company's stock after selling 1,715 shares during the quarter. Vertex Pharmaceuticals accounts for about 2.4% of Bowen Hanes & Co. Inc.'s holdings, making the stock its 10th biggest position. Bowen Hanes & Co. Inc. owned approximately 0.07% of Vertex Pharmaceuticals worth $86,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of VRTX. Brighton Jones LLC grew its holdings in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after buying an additional 579 shares in the last quarter. Jump Financial LLC boosted its holdings in Vertex Pharmaceuticals by 2.4% during the 4th quarter. Jump Financial LLC now owns 3,041 shares of the pharmaceutical company's stock worth $1,225,000 after acquiring an additional 72 shares during the last quarter. Commerce Bank boosted its holdings in Vertex Pharmaceuticals by 16.1% during the 4th quarter. Commerce Bank now owns 8,638 shares of the pharmaceutical company's stock worth $3,479,000 after acquiring an additional 1,195 shares during the last quarter. Curi RMB Capital LLC grew its stake in shares of Vertex Pharmaceuticals by 8.2% in the 4th quarter. Curi RMB Capital LLC now owns 1,710 shares of the pharmaceutical company's stock worth $689,000 after acquiring an additional 130 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $50,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRTX has been the topic of several analyst reports. Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. HC Wainwright reduced their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Leerink Partners reiterated a "market perform" rating and set a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $497.10.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following 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 accessible through the SEC website. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.8%

Shares of VRTX stock traded up $3.10 on Thursday, hitting $397.46. 1,851,693 shares of the stock were exchanged, compared to its average volume of 2,487,458. The firm has a market capitalization of $101.90 billion, a PE ratio of 28.41 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The firm's 50 day moving average is $440.20 and its two-hundred day moving average is $462.13.

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 (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.