Vanguard Group Inc. Has $11.39 Billion Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Vanguard Group Inc. has increased its stake in Vertex Pharmaceuticals by 1.0%, owning approximately 9.14% of the company, valued at over $11 billion.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, surpassing expectations and showing a year-over-year revenue increase of 11.3% to $2.94 billion.
• Multiple analysts have set target prices for Vertex Pharmaceuticals, with UBS Group setting a target at $553.00 and the stock currently rated as a "Moderate Buy" with an average target of $495.21.

Vanguard Group Inc. boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,491,161 shares of the pharmaceutical company's stock after purchasing an additional 232,873 shares during the quarter. Vanguard Group Inc. owned approximately 9.14% of Vertex Pharmaceuticals worth $11,388,985,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals during the 4th quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $44,000. SJS Investment Consulting Inc. lifted its position in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $46,000. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In other news, Director Bruce I. Sachs bought 5,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Down 0.8%

Shares of Vertex Pharmaceuticals stock traded down $2.93 on Friday, reaching $372.70. 415,021 shares of the company were exchanged, compared to its average volume of 1,617,303. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $372.35 and a fifty-two week high of $519.88. The firm has a market capitalization of $95.71 billion, a price-to-earnings ratio of 26.70 and a beta of 0.44. The stock has a fifty day moving average price of $452.30 and a 200-day moving average price of $465.93.

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 the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company earned ($12.83) EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented 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 target on the stock in a research note on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday. Finally, Scotiabank reduced their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a report on Tuesday. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Company 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.