Kestra Advisory Services LLC Lowers Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Kestra Advisory Services LLC reduced its stake in Vertex Pharmaceuticals by 18.7%, owning 13,210 shares worth approximately $6.4 million after selling 3,048 shares.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, increased their holdings, indicating strong institutional interest, with hedge funds owning 90.96% of the stock.
• Vertex Pharmaceuticals reported a strong quarterly performance with $4.52 EPS, exceeding analyst estimates, alongside a revenue growth of 11.3% year-over-year.

Kestra Advisory Services LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 18.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,210 shares of the pharmaceutical company's stock after selling 3,048 shares during the period. Kestra Advisory Services LLC's holdings in Vertex Pharmaceuticals were worth $6,404,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after buying an additional 232,873 shares during the period. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after buying an additional 744,680 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock valued at $1,414,331,000 after buying an additional 1,226,527 shares during the period. Janus Henderson Group PLC grew its stake in shares of Vertex Pharmaceuticals by 12.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,833,889 shares of the pharmaceutical company's stock valued at $1,141,277,000 after buying an additional 317,058 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Vertex Pharmaceuticals by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,721,049 shares of the pharmaceutical company's stock valued at $1,095,766,000 after buying an additional 355,057 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VRTX. Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada decreased their price target on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Stifel Nicolaus decreased their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a research report on Tuesday, August 5th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday. Finally, BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $388.94 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The firm has a market capitalization of $99.72 billion, a P/E ratio of 27.80 and a beta of 0.44. The company's fifty day moving average price is $437.75 and its two-hundred day moving average price is $460.64.

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

Insider Buying and Selling

In other news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals 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.

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