TD Private Client Wealth LLC Cuts Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• TD Private Client Wealth LLC reduced its holdings in Vertex Pharmaceuticals by 33.8%, owning 4,118 shares valued at approximately $1.83 million after selling 2,107 shares in the second quarter.
• Vertex Pharmaceuticals reported earnings of $4.52 per share for the latest quarter, surpassing analysts' expectations of $4.24, with revenue increasing 11.3% year-over-year to $2.94 billion.
• Approximately 90.96% of Vertex Pharmaceuticals' stock is currently owned by hedge funds and institutional investors, indicating strong institutional interest in the company.

TD Private Client Wealth LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 33.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,118 shares of the pharmaceutical company's stock after selling 2,107 shares during the period. TD Private Client Wealth LLC's holdings in Vertex Pharmaceuticals were worth $1,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Activest Wealth Management purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd grew 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 acquiring an additional 45 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at $31,000. Flaharty Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at $32,000. Finally, SJS Investment Consulting Inc. lifted its holdings in Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $381.87 on Friday. The business's 50-day moving average is $407.48 and its 200 day moving average is $447.31. The firm has a market capitalization of $97.91 billion, a P/E ratio of 27.30 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88.

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

Insider Activity

In other news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent research reports. Royal Bank Of Canada cut their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company 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 report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Morgan Stanley set a $439.00 price target on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, Leerink Partners upgraded Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $458.00 to $456.00 in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $493.81.

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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