J. Safra Sarasin Holding AG Has $1.34 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Vertex Pharmaceuticals by 24.0%, holding 3,000 shares valued at approximately $1.34 million as of the latest SEC filing.
• Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals, increasing his ownership by 12.50% to a total of 45,000 shares.
• Vertex Pharmaceuticals reported $4.52 EPS for the last quarter, beating the consensus estimate, and has set guidance for a projected 15.63 EPS for the current fiscal year.

J. Safra Sarasin Holding AG trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 24.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,000 shares of the pharmaceutical company's stock after selling 946 shares during the period. J. Safra Sarasin Holding AG's holdings in Vertex Pharmaceuticals were worth $1,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Vertex Pharmaceuticals by 450.0% during 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 during the period. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $32,000. American National Bank & Trust grew its position in Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock valued at $36,000 after purchasing an additional 67 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its position in Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $403.30 on Friday. The company has a market capitalization of $103.40 billion, a price-to-earnings ratio of 28.83 and a beta of 0.43. The company has a 50-day simple moving average of $399.12 and a 200 day simple moving average of $442.98. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. Vertex Pharmaceuticals's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VRTX shares. Canaccord Genuity Group decreased their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research report on Wednesday, August 6th. BMO Capital Markets set a $530.00 target price on shares of Vertex Pharmaceuticals and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Vertex Pharmaceuticals in a research report on Saturday, September 27th. Finally, UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $493.81.

Vertex Pharmaceuticals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.