OFI Invest Asset Management Sells 6,381 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• OFI Invest Asset Management has significantly reduced its holdings in Vertex Pharmaceuticals, selling 6,381 shares and now holding only 214 shares, valued at $95,000.
• Multiple institutional investors have either increased or initiated stakes in Vertex Pharmaceuticals, with institutional ownership now at 90.96%.
• Vertex Pharmaceuticals reported strong quarterly earnings, with $4.52 EPS exceeding expectations and 11.3% year-over-year revenue growth to $2.94 billion.

OFI Invest Asset Management reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 96.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 214 shares of the pharmaceutical company's stock after selling 6,381 shares during the quarter. OFI Invest Asset Management's holdings in Vertex Pharmaceuticals were worth $95,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $32,000. American National Bank & Trust increased its holdings in shares of Vertex Pharmaceuticals by 515.4% during 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 in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $46,000. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VRTX shares. Royal Bank Of Canada decreased their price objective on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Cantor Fitzgerald cut their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. Raymond James Financial initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a "market perform" rating on the stock. Guggenheim cut their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Leerink Partnrs raised Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $494.38.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $407.37 on Tuesday. The company has a market capitalization of $104.45 billion, a PE ratio of 29.12 and a beta of 0.43. The business has a fifty day moving average price of $392.61 and a two-hundred day moving average price of $438.14. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year 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, beating analysts' consensus estimates of $4.24 by $0.28. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

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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