TD Asset Management Inc Has $207.10 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• TD Asset Management Inc reduced its stake in Vertex Pharmaceuticals by 4.3%, holding approximately $207.1 million in shares after selling 20,683 shares.
• Insider Bruce I. Sachs increased his ownership by 12.5% after acquiring 5,000 shares at an average price of $389.68, bringing his total ownership to 45,000 shares valued at about $17.5 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding analysts' expectations, and their revenue grew by 11.3% year-over-year, reaching $2.94 billion.

TD Asset Management Inc cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 465,173 shares of the pharmaceutical company's stock after selling 20,683 shares during the period. TD Asset Management Inc owned approximately 0.18% of Vertex Pharmaceuticals worth $207,095,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd grew its stake in 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 acquiring an additional 45 shares during the period. Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals in the first quarter valued at about $32,000. American National Bank & Trust grew its stake in Vertex Pharmaceuticals by 515.4% in 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 during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Vertex Pharmaceuticals in the first quarter valued at about $46,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Bruce I. Sachs acquired 5,000 shares of the firm's 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 completion of the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $407.37 on Tuesday. The company has a market cap of $104.45 billion, a PE ratio of 29.12 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The stock has a 50-day simple moving average of $392.61 and a 200 day simple moving average of $438.14.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group decreased their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. Raymond James Financial assumed coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a "market perform" rating for the company. Citigroup boosted their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Finally, BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the company an "outperform" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $494.38.

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.

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