McGuire Investment Group LLC Has $2.28 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• McGuire Investment Group LLC reduced its stake in Vertex Pharmaceuticals by 12.3%, owning 5,114 shares worth approximately $2.28 million as of the latest filing.
• Insider activity included Director Bruce I. Sachs purchasing 5,000 shares for about $1.95 million, increasing his total holdings in the company to 45,000 shares valued at approximately $17.54 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, surpassing estimates and showing an 11.3% year-over-year revenue increase, amid recent target price adjustments from various brokerages.

McGuire Investment Group LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,114 shares of the pharmaceutical company's stock after selling 717 shares during the period. McGuire Investment Group LLC's holdings in Vertex Pharmaceuticals were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. United Services Automobile Association purchased a new position in Vertex Pharmaceuticals in the first quarter valued at about $2,933,000. Lee Johnson Capital Management LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at about $721,000. Aries Wealth Management purchased a new position in Vertex Pharmaceuticals in the first quarter valued at about $293,000. New England Research & Management Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter valued at about $472,000. Finally, Moody Lynn & Lieberson LLC grew its stake in Vertex Pharmaceuticals by 1.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company's stock valued at $25,856,000 after purchasing an additional 822 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Bruce I. Sachs bought 5,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 3.2%

Vertex Pharmaceuticals stock opened at $404.21 on Thursday. The business has a 50 day moving average price of $401.71 and a two-hundred day moving average price of $444.45. The stock has a market cap of $103.64 billion, a price-to-earnings ratio of 28.89 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88.

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

Analysts Set New Price Targets

A number of brokerages have commented on VRTX. Cantor Fitzgerald lowered their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 5th. Canaccord Genuity Group lowered their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley set a $439.00 price target on Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Raymond James Financial started coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a "market perform" rating for the company. Finally, Wall Street Zen downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.

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