Foster Victor Wealth Advisors LLC Boosts Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Vertex Pharmaceuticals by 10.6% during the second quarter, bringing its total holdings to 25,364 shares valued at approximately $12.15 million.
• Insider Activity: Director Bruce I. Sachs purchased 5,000 shares at $389.68 each, raising his total ownership to 45,000 shares and signifying a 12.50% increase in his stake.
• Vertex Pharmaceuticals reported $4.52 earnings per share (EPS) for the last quarter, surpassing analysts' estimates and marking an 11.3% year-over-year revenue increase to $2.94 billion.

Foster Victor Wealth Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,364 shares of the pharmaceutical company's stock after purchasing an additional 2,440 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Vertex Pharmaceuticals were worth $12,148,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. United Services Automobile Association purchased a new position in Vertex Pharmaceuticals in the first quarter valued at approximately $2,933,000. Aries Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at $293,000. New England Research & Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $472,000. Paladin Wealth LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth $552,000. Finally, Andrew Hill Investment Advisors Inc. increased its holdings in Vertex Pharmaceuticals by 21.8% in the 2nd quarter. Andrew Hill Investment Advisors Inc. now owns 8,003 shares of the pharmaceutical company's stock worth $3,563,000 after acquiring an additional 1,430 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the firm'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 completion of the purchase, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $379.72 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The company has a market capitalization of $97.36 billion, a P/E ratio of 27.14 and a beta of 0.44. The stock has a 50 day moving average price of $410.97 and a two-hundred day moving average price of $448.62.

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

Analyst Ratings Changes

VRTX has been the topic of several recent research reports. Guggenheim dropped their price objective on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. BMO Capital Markets set a $530.00 price objective on shares of Vertex Pharmaceuticals and gave the company an "outperform" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Morgan Stanley set a $439.00 price objective on Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $496.05.

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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