Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust reduced its stake in Vertex Pharmaceuticals by 12.6% during the second quarter, now holding 5,037 shares valued at $2.24 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding analysts' expectations, and experienced an 11.3% year-over-year revenue increase to $2.94 billion.
• Several analysts have recently adjusted their price targets for Vertex, with a consensus rating of "Moderate Buy" and an average target price of approximately $493.81.

Greenleaf Trust lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,037 shares of the pharmaceutical company's stock after selling 729 shares during the quarter. Greenleaf Trust's holdings in Vertex Pharmaceuticals were worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in VRTX. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd grew its position in shares of 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. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals during the first quarter worth $32,000. American National Bank & Trust lifted its stake in Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock worth $36,000 after purchasing an additional 67 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.9%

VRTX stock opened at $391.64 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The company has a market capitalization of $100.41 billion, a P/E ratio of 27.99 and a beta of 0.44. The company has a 50-day simple moving average of $403.17 and a 200 day simple moving average of $444.73.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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 business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business earned ($12.83) earnings per share. The business's revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were purchased 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. The trade was a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRTX. Truist Financial set a $490.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Scotiabank reduced their price objective on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a research note on Wednesday, August 6th. Leerink Partnrs upgraded Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 25th. Finally, Canaccord Genuity Group lowered their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $493.81.

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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