Nordea Investment Management AB Has $10.89 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Nordea Investment Management AB increased its stake in Vertex Pharmaceuticals by 4.5%, holding a total of 24,512 shares valued at approximately $10.89 million as of the latest SEC filing.
• Vertex Pharmaceuticals reported quarterly earnings of $4.52 EPS, exceeding analyst expectations of $4.24, and had a revenue of $2.94 billion for the quarter.
• The company's stock opened at $416.81, with a market cap of $106.87 billion, and has experienced a 52-week range from $362.50 to $519.88.

Nordea Investment Management AB lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,512 shares of the pharmaceutical company's stock after purchasing an additional 1,057 shares during the quarter. Nordea Investment Management AB's holdings in Vertex Pharmaceuticals were worth $10,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 45 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in Vertex Pharmaceuticals in the first quarter valued at $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 acquiring an additional 67 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Vertex Pharmaceuticals in the first quarter valued at $46,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $416.81 on Monday. The firm has a market cap of $106.87 billion, a P/E ratio of 29.79 and a beta of 0.43. The business's fifty day moving average is $395.46 and its two-hundred day moving average is $436.10. 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 posted 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. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business's revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity

In other news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. The trade was a 12.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. Evercore ISI lowered their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. Scotiabank lowered 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. Stifel Nicolaus lowered their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. Finally, Morgan Stanley lowered their price target on Vertex Pharmaceuticals from $439.00 to $438.00 and set an "equal weight" rating on the stock in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $494.38.

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.

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