Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by CCM Investment Advisers LLC

Key Points

• CCM Investment Advisers LLC increased its holdings in Vertex Pharmaceuticals by 7.5%, owning a total of 29,615 shares valued at approximately $13.19 million as of the latest SEC filing.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, exceeding analyst expectations, with revenues of $2.94 billion, marking an 11.3% increase from the same quarter last year.
• Institutional investors now own 90.96% of Vertex Pharmaceuticals’ stock, indicating significant confidence from institutional stakeholders amid recent market fluctuations.

CCM Investment Advisers LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,615 shares of the pharmaceutical company's stock after acquiring an additional 2,062 shares during the period. CCM Investment Advisers LLC's holdings in Vertex Pharmaceuticals were worth $13,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Vertex Pharmaceuticals by 1.0% in the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after purchasing an additional 232,873 shares during the period. Jennison Associates LLC grew its position in shares of Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after buying an additional 744,680 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Vertex Pharmaceuticals by 0.9% during the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock worth $1,916,742,000 after buying an additional 33,492 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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 acquiring an additional 1,226,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Vertex Pharmaceuticals by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company's stock worth $1,240,885,000 after acquiring an additional 230,257 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 0.9%

Shares of Vertex Pharmaceuticals stock opened at $379.72 on Wednesday. The firm has a market cap of $97.36 billion, a price-to-earnings ratio of 27.14 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The company's 50-day simple moving average is $410.97 and its 200-day simple moving average is $448.62.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm earned ($12.83) earnings per share. The firm's revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director directly owned 45,000 shares of the company's stock, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Raymond James Financial started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "market perform" rating on the stock. Wall Street Zen lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Canaccord Genuity Group decreased their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Cantor Fitzgerald lowered their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Finally, Evercore ISI cut their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $496.05.

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.

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