Intech Investment Management LLC Has $4.22 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Intech Investment Management LLC significantly reduced its stake in Vertex Pharmaceuticals by 64.7%, ending with a position worth approximately $4.22 million after selling 15,953 shares during the first quarter.
• Vertex Pharmaceuticals saw a range of analyst ratings, with one maintaining a Strong Buy rating while others issued Buy and Hold ratings, contributing to an average target price of $496.05.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding forecasts and showing an 11.3% year-over-year revenue growth, with total revenue reaching $2.94 billion.

Intech Investment Management LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 64.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,697 shares of the pharmaceutical company's stock after selling 15,953 shares during the quarter. Intech Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $4,216,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Focus Partners Wealth grew its holdings in Vertex Pharmaceuticals by 1.8% during the first quarter. Focus Partners Wealth now owns 143,205 shares of the pharmaceutical company's stock worth $69,430,000 after buying an additional 2,471 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in Vertex Pharmaceuticals during the first quarter worth $32,000. Integrity Alliance LLC. bought a new stake in Vertex Pharmaceuticals during the first quarter worth $445,000. Anchor Investment Management LLC grew its holdings in Vertex Pharmaceuticals by 14.9% during the first quarter. Anchor Investment Management LLC now owns 1,615 shares of the pharmaceutical company's stock worth $783,000 after buying an additional 209 shares in the last quarter. Finally, Glenview Trust co grew its holdings in Vertex Pharmaceuticals by 0.4% during the first quarter. Glenview Trust co now owns 6,920 shares of the pharmaceutical company's stock worth $3,355,000 after buying an additional 30 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VRTX shares. Erste Group Bank downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Raymond James Financial assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a "market perform" rating for the company. Morgan Stanley set a $439.00 price objective on Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research note on Wednesday, August 6th. Finally, UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $496.05.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $394.53 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The business's fifty day moving average price is $422.66 and its 200-day moving average price is $453.56. The stock has a market capitalization of $101.15 billion, a PE ratio of 28.20 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 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 analysts' expectations of $2.90 billion. During the same quarter in the prior year, the firm earned ($12.83) EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

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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