Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,726 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Vertex Pharmaceuticals by 3.7%, owning 48,090 shares worth approximately $21.41 million as of the latest SEC filing.
• Several institutional investors, including Vanguard Group and Jennison Associates, also raised their positions in Vertex Pharmaceuticals, reflecting growing confidence in the company.
• Vertex Pharmaceuticals recently reported a quarterly earnings beat with EPS of $4.52, exceeding expectations, and an 11.3% revenue increase year-over-year, helping solidify its market cap at $99.26 billion.

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,090 shares of the pharmaceutical company's stock after purchasing an additional 1,726 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Vertex Pharmaceuticals were worth $21,410,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Activest Wealth Management purchased a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings 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 worth $27,000 after buying an additional 45 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth $32,000. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $31,000. Finally, SJS Investment Consulting Inc. lifted its holdings 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 worth $46,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $3.99 during mid-day trading on Friday, reaching $383.12. 3,393,840 shares of the stock traded hands, compared to its average volume of 1,391,374. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The stock has a market capitalization of $98.23 billion, a PE ratio of 27.39 and a beta of 0.44. The business has a 50-day moving average price of $414.44 and a two-hundred day moving average price of $450.38.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share 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 business had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the previous year, the business posted ($12.83) earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRTX. Royal Bank Of Canada lowered their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. Evercore ISI lowered their target price on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a report on Thursday, September 11th. Guggenheim reduced their price target on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "market perform" rating on the stock. Finally, Cantor Fitzgerald reduced their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" 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 issued a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $496.05.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs acquired 5,000 shares of the business's 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 completion of the transaction, the director directly owned 45,000 shares of the company's stock, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company 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.