Public Employees Retirement System of Ohio Has $47.22 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Vertex Pharmaceuticals by 3.0%, holding 106,055 shares valued at approximately $47.22 million at the end of the last quarter.
• Vertex Pharmaceuticals reported an earnings per share (EPS) of $4.52 for the last quarter, surpassing analysts' expectations of $4.24, with a revenue increase of 11.3% year-over-year.
• Several analysts have adjusted their price targets for Vertex, with estimates ranging from $411.00 to $553.00, while the stock currently has a consensus rating of "Moderate Buy."

Public Employees Retirement System of Ohio trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,055 shares of the pharmaceutical company's stock after selling 3,227 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Vertex Pharmaceuticals were worth $47,216,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $31,000. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $32,000. Finally, SJS Investment Consulting Inc. grew its position in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.9%

NASDAQ:VRTX opened at $379.72 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The firm has a 50 day moving average of $410.97 and a 200-day moving average of $448.62. The stock has a market capitalization of $97.36 billion, a P/E ratio of 27.14 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results 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. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the previous year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals's quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. Canaccord Genuity Group reduced their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald reduced their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note 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 issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $496.05.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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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