Vertex Pharmaceuticals Incorporated $VRTX Stock Position Decreased by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt significantly reduced its stake in Vertex Pharmaceuticals by 93.2%, now holding only 1,880 shares after selling 25,740 shares in Q2, valued at approximately $837,000.
• Other investors have increased their positions in Vertex, with notable purchases including Clal Insurance Enterprises Holdings Ltd, which grew its stake by 450% in the first quarter.
• Vertex Pharmaceuticals reported Q2 earnings surpassing estimates at $4.52 per share, along with a revenue of $2.94 billion, showing an 11.3% increase year-over-year.

Livforsakringsbolaget Skandia Omsesidigt cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 93.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,880 shares of the pharmaceutical company's stock after selling 25,740 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Vertex Pharmaceuticals were worth $837,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VRTX. Brighton Jones LLC increased its position in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after buying an additional 579 shares during the period. Waverly Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 632.5% in the fourth quarter. Waverly Advisors LLC now owns 3,948 shares of the pharmaceutical company's stock worth $1,590,000 after purchasing an additional 3,409 shares in the last quarter. Vise Technologies Inc. grew its stake in shares of Vertex Pharmaceuticals by 141.5% in the fourth quarter. Vise Technologies Inc. now owns 2,809 shares of the pharmaceutical company's stock worth $1,131,000 after purchasing an additional 1,646 shares in the last quarter. Breed s Hill Capital LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $498,000. Finally, Investment Management Corp VA ADV bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $337,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction dated 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 purchase, the director directly owned 45,000 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded down $3.99 during mid-day trading on Friday, hitting $383.12. The company's stock had a trading volume of 3,393,840 shares, compared to its average volume of 1,391,374. The firm's 50 day moving average is $414.44 and its 200 day moving average is $450.09. The company has a market cap of $98.23 billion, a PE ratio of 27.39 and a beta of 0.44. 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 quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $2.90 billion. During the same period in the prior year, the business earned ($12.83) EPS. The business's revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several recent analyst reports. Guggenheim decreased their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. HC Wainwright decreased their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Scotiabank decreased their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Finally, BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $496.05.

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.