UMB Bank n.a. Decreases Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• UMB Bank n.a. has reduced its shareholding in Vertex Pharmaceuticals by 32.2%, selling 1,094 shares and now owning a total of 2,303 shares valued at approximately $1,025,000.
• Director Bruce I. Sachs increased his ownership by 12.5% after purchasing 5,000 shares at an average price of $389.68, bringing his total to 45,000 shares valued at about $17.5 million.
• Vertex Pharmaceuticals reported earnings of $4.52 per share for the quarter, exceeding analysts' expectations, along with a revenue increase of 11.3% year-over-year to $2.94 billion.

UMB Bank n.a. lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 32.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,303 shares of the pharmaceutical company's stock after selling 1,094 shares during the period. UMB Bank n.a.'s holdings in Vertex Pharmaceuticals were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of VRTX. GAMMA Investing LLC lifted its stake in Vertex Pharmaceuticals by 60,572.3% in the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock valued at $1,175,722,000 after acquiring an additional 2,421,073 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Vertex Pharmaceuticals by 72.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock valued at $1,414,331,000 after purchasing an additional 1,226,527 shares in the last quarter. Nuveen LLC acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $484,053,000. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after purchasing an additional 744,680 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company's stock worth $860,650,000 after purchasing an additional 398,460 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on VRTX shares. Stifel Nicolaus cut their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company 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 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 on the stock in a research report on Wednesday, August 6th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $439.00 price objective on shares of Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $496.05.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Up 0.0%

Shares of NASDAQ VRTX traded up $0.01 during mid-day trading on Monday, hitting $383.13. The company had a trading volume of 1,469,577 shares, compared to its average volume of 1,490,884. The stock's 50-day moving average price is $414.44 and its 200-day moving average price is $449.84. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The company has a market capitalization of $98.23 billion, a price-to-earnings ratio of 27.39 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company's revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.