Stratos Wealth Partners LTD. Sells 1,083 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Stratos Wealth Partners LTD. reduced its stake in Vertex Pharmaceuticals by 25.3%, selling 1,083 shares, leaving them with a total of 3,201 shares valued at approximately $1.425 million.
• Vertex Pharmaceuticals reported a quarterly earnings of $4.52 per share, exceeding expectations, and recorded a net margin of 31.86% alongside revenue of $2.94 billion.
• Analyst ratings show a consensus of "Moderate Buy", with various price targets ranging from $455 to $575 reflecting analyst expectations for the stock's performance.

Stratos Wealth Partners LTD. cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 25.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,201 shares of the pharmaceutical company's stock after selling 1,083 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Vertex Pharmaceuticals were worth $1,425,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Activest Wealth Management bought a new position in Vertex Pharmaceuticals in the first quarter worth about $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 acquired a new position in shares of Vertex Pharmaceuticals during the first quarter valued at about $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. acquired a new position in shares of Vertex Pharmaceuticals during the first quarter valued at about $46,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 0.5%

Shares of NASDAQ:VRTX opened at $419.10 on Tuesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The company's 50 day moving average is $396.36 and its 200 day moving average is $435.71. The company has a market cap of $107.45 billion, a PE ratio of 29.96 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share 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 company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company earned ($12.83) EPS. Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were acquired 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 in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

VRTX has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Guggenheim cut their price objective on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a "market perform" rating on the stock. Wells Fargo & Company upgraded 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 report on Wednesday, August 6th. Finally, Stifel Nicolaus cut their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $494.38.

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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