Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC reduced its position in Vertex Pharmaceuticals by 13.5% during the first quarter, now owning 10,943 shares valued at $5,305,000.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, beating forecasts, with revenues of $2.94 billion, marking an 11.3% increase year-over-year.
• A significant portion of the stock, 90.96%, is held by institutional investors, indicating strong institutional interest in the company.

NewEdge Advisors LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,943 shares of the pharmaceutical company's stock after selling 1,708 shares during the period. NewEdge Advisors LLC's holdings in Vertex Pharmaceuticals were worth $5,305,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of VRTX. Activest Wealth Management purchased a new position in Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd increased its position in Vertex Pharmaceuticals by 450.0% during 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. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth $31,000. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth $40,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 0.7%

Shares of VRTX traded down $2.84 during midday trading on Friday, reaching $394.53. 978,279 shares of the company were exchanged, compared to its average volume of 1,627,525. The stock has a 50-day moving average price of $423.87 and a 200-day moving average price of $454.15. The company has a market cap of $101.15 billion, a price-to-earnings ratio of 28.20 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 issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction that occurred 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 purchase, the director owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

VRTX has been the topic of several analyst reports. Cantor Fitzgerald decreased their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. Canaccord Genuity Group decreased their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a report on Wednesday, August 6th. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Stifel Nicolaus dropped 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 report on Tuesday, August 5th. Finally, BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $496.05.

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.