Federation des caisses Desjardins du Quebec Has $9.39 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Federation des caisses Desjardins du Quebec reduced its holdings in Vertex Pharmaceuticals by 63.6%, selling 33,862 shares and leaving them with 19,374 shares valued at approximately $9.39 million.
• Insider activity revealed that Director Bruce I. Sachs acquired 5,000 shares of Vertex, increasing his ownership stake by 12.50% to a total of 45,000 shares worth about $17.54 million.
• Vertex Pharmaceuticals reported earnings per share of $4.52 for the latest quarter, exceeding analysts’ estimates and experiencing a revenue increase of 11.3% compared to the previous year.

Federation des caisses Desjardins du Quebec lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 63.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,374 shares of the pharmaceutical company's stock after selling 33,862 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Vertex Pharmaceuticals were worth $9,393,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VRTX. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the first quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd increased 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 worth $27,000 after acquiring an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $40,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $44,000. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Cantor Fitzgerald reduced their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. HC Wainwright reduced their price objective on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Finally, Wall Street Zen cut Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX traded down $0.81 during trading hours on Friday, hitting $396.12. 1,171,066 shares of the company traded hands, compared to its average volume of 1,677,311. The business's 50-day moving average is $428.49 and its 200-day moving average is $456.39. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The stock has a market capitalization of $101.56 billion, a price-to-earnings ratio of 28.31 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS 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 analysts' expectations of $2.90 billion. During the same period in the prior year, the firm posted ($12.83) earnings per share. The business's quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict 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.