Paladin Wealth LLC Purchases Shares of 1,240 Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Paladin Wealth LLC acquired 1,240 shares of Vertex Pharmaceuticals valued at approximately $552,000, highlighting continued institutional interest in the company.
• Director Bruce I. Sachs increased his ownership by 12.50% after purchasing 5,000 shares at an average cost of $389.68, raising his total ownership to 45,000 shares.
• Vertex Pharmaceuticals reported an EPS of $4.52 for the latest quarter, exceeding analyst expectations and indicating a 11.3% increase in revenue compared to the same quarter last year.

Paladin Wealth LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,240 shares of the pharmaceutical company's stock, valued at approximately $552,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its stake in Vertex Pharmaceuticals by 4.5% in the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after acquiring an additional 22 shares during the last quarter. Advisor OS LLC raised its position in shares of Vertex Pharmaceuticals by 4.4% in the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock valued at $263,000 after purchasing an additional 23 shares during the period. Sculati Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals by 1.0% in the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock valued at $1,029,000 after purchasing an additional 25 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Vertex Pharmaceuticals by 2.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock valued at $594,000 after purchasing an additional 25 shares during the period. Finally, Strategic Blueprint LLC raised its position in shares of Vertex Pharmaceuticals by 1.7% in the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Buying and Selling

In other news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 0.7%

VRTX stock opened at $394.53 on Monday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The firm has a market cap of $101.15 billion, a P/E ratio of 28.20 and a beta of 0.44. The company's 50-day moving average price is $422.66 and its two-hundred day moving average price is $453.23.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its 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. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the firm earned ($12.83) EPS. The business's quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VRTX shares. Canaccord Genuity Group dropped their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a research report on Wednesday, August 6th. Royal Bank Of Canada dropped their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Scotiabank dropped their price objective on shares of 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 investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $496.05.

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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