Simplicity Wealth LLC Purchases 1,736 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Simplicity Wealth LLC increased its stake in Vertex Pharmaceuticals by 133.6%, acquiring an additional 1,736 shares, bringing its total holdings to 3,035 shares valued at $1,351,000.
• A variety of institutional investors, including Price T Rowe Associates Inc. and Jennison Associates LLC, significantly boosted their positions in Vertex Pharmaceuticals, with institutional ownership rising to 90.96% of the stock.
• Vertex Pharmaceuticals reported $4.52 earnings per share for the most recent quarter, exceeding expectations and showcasing a 11.3% year-over-year revenue growth. Analysts forecast an EPS of 15.63 for the current fiscal year.

Simplicity Wealth LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 133.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,035 shares of the pharmaceutical company's stock after acquiring an additional 1,736 shares during the quarter. Simplicity Wealth LLC's holdings in Vertex Pharmaceuticals were worth $1,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock worth $1,414,331,000 after buying an additional 1,226,527 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $484,053,000. Jennison Associates LLC raised its holdings in Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after acquiring an additional 744,680 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Vertex Pharmaceuticals by 28.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company's stock valued at $860,650,000 after purchasing an additional 398,460 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in Vertex Pharmaceuticals by 456.9% in the first quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company's stock valued at $209,347,000 after purchasing an additional 354,269 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $402.90 on Tuesday. The stock has a market cap of $103.30 billion, a PE ratio of 28.80 and a beta of 0.43. The firm has a 50-day moving average of $397.96 and a 200-day moving average of $441.32. 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 released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.28. The firm had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business's revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VRTX. Evercore ISI dropped their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a research note on Thursday, September 11th. Scotiabank dropped their price target 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. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research report on Wednesday, August 6th. Stifel Nicolaus dropped their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a report on Tuesday, August 5th. Finally, Citigroup lifted their price target on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $493.81.

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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