Zurich Insurance Group Ltd FI Increases Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Zurich Insurance Group Ltd FI significantly increased its stake in Vertex Pharmaceuticals by 307.4% in Q1, acquiring an additional 158,379 shares to reach a total of 209,906 shares.
• Research analysts have mixed ratings for Vertex Pharmaceuticals, with a consensus rating of Moderate Buy and a target price of $497.10, following recent ratings changes from multiple firms.
• Vertex reported strong quarterly earnings, with an EPS of $4.52 and revenue of $2.94 billion, surpassing consensus estimates for both metrics.

Zurich Insurance Group Ltd FI grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 307.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,906 shares of the pharmaceutical company's stock after buying an additional 158,379 shares during the period. Zurich Insurance Group Ltd FI owned 0.08% of Vertex Pharmaceuticals worth $101,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in 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 in the last quarter. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $31,000. Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $40,000. Finally, Minot DeBlois Advisors LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VRTX shares. Raymond James Financial started coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a "market perform" rating on the stock. Guggenheim dropped their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. HC Wainwright dropped their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. Cantor Fitzgerald dropped their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. Finally, UBS Group set a $553.00 target price on Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $496.05.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $2.84 during trading hours on Friday, reaching $394.53. The stock had a trading volume of 978,279 shares, compared to its average volume of 1,627,526. The stock has a 50 day simple moving average of $423.87 and a 200 day simple moving average of $454.15. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88. The stock has a market cap of $101.15 billion, a P/E ratio of 28.20 and a beta of 0.44.

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