Steward Partners Investment Advisory LLC Has $19.89 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Vertex Pharmaceuticals by 3.1%, now holding 41,033 shares valued at nearly $19.9 million.
• GAMMA Investing LLC saw a massive 60,572.3% increase in its stake, acquiring an impressive 2.4 million shares worth over $1.17 billion this quarter.
• Vertex Pharmaceuticals reported a quarterly earnings per share of $4.52, beating analysts' expectations, with revenues of $2.94 billion for the quarter, a rise of 11.3% year-over-year.

Steward Partners Investment Advisory LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,033 shares of the pharmaceutical company's stock after acquiring an additional 1,225 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Vertex Pharmaceuticals were worth $19,894,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of VRTX. Capital World Investors increased its holdings in shares of Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares during the period. Vanguard Group Inc. increased its stake in Vertex Pharmaceuticals by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock worth $11,388,985,000 after acquiring an additional 232,873 shares during the period. Capital Research Global Investors raised its holdings in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock valued at $4,199,713,000 after acquiring an additional 1,426,746 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after acquiring an additional 744,680 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Vertex Pharmaceuticals by 12.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,833,889 shares of the pharmaceutical company's stock worth $1,141,277,000 after purchasing an additional 317,058 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded up $3.60 during midday trading on Wednesday, hitting $394.36. 1,669,590 shares of the stock were exchanged, compared to its average volume of 1,649,592. The business's 50-day moving average price is $442.61 and its 200 day moving average price is $463.11. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The stock has a market capitalization of $101.11 billion, a price-to-earnings ratio of 28.19 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 EPS for the quarter, topping 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 business had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the company earned ($12.83) EPS. The firm's 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, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Morgan Stanley set a $439.00 target price on Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. Scotiabank lowered their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Finally, Guggenheim reduced their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $497.10.

Vertex Pharmaceuticals 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.