Martingale Asset Management L P Decreases Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Martingale Asset Management reduced its stake in Vertex Pharmaceuticals by 18.3%, now holding $20.29 million worth of shares after selling 9,360 shares in the first quarter.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, beating analyst estimates and showing an 11.3% increase in revenue year-over-year.
• Research analysts have mixed ratings on Vertex Pharmaceuticals, with a consensus rating of "Moderate Buy" and an average price target of $497.10.

Martingale Asset Management L P reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 18.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,847 shares of the pharmaceutical company's stock after selling 9,360 shares during the quarter. Martingale Asset Management L P's holdings in Vertex Pharmaceuticals were worth $20,288,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Vertex Pharmaceuticals by 5.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,700 shares of the pharmaceutical company's stock valued at $1,309,000 after purchasing an additional 146 shares during the last quarter. Level Four Advisory Services LLC increased its position in Vertex Pharmaceuticals by 13.0% during the first quarter. Level Four Advisory Services LLC now owns 8,436 shares of the pharmaceutical company's stock worth $4,090,000 after buying an additional 969 shares during the period. Tradition Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $207,000. Erste Asset Management GmbH boosted its holdings in shares of Vertex Pharmaceuticals by 4.6% in the first quarter. Erste Asset Management GmbH now owns 68,770 shares of the pharmaceutical company's stock valued at $33,460,000 after acquiring an additional 2,996 shares during the period. Finally, HMS Capital Management LLC grew its position in shares of Vertex Pharmaceuticals by 79.2% during the first quarter. HMS Capital Management LLC now owns 1,070 shares of the pharmaceutical company's stock worth $508,000 after acquiring an additional 473 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $2.34 during mid-day trading on Friday, reaching $395.12. The stock had a trading volume of 1,403,298 shares, compared to its average volume of 2,534,666. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The business has a 50 day simple moving average of $438.99 and a 200 day simple moving average of $461.34. The firm has a market capitalization of $101.30 billion, a price-to-earnings ratio of 28.24 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its 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. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business 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 posted ($12.83) EPS. The company'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, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction dated 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 acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on VRTX. Stifel Nicolaus reduced 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. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. HC Wainwright decreased their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Cantor Fitzgerald lowered their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. Finally, Scotiabank dropped their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $497.10.

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.