Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Greenwood Capital Associates LLC

Key Points

• Greenwood Capital Associates LLC reduced its holdings in Vertex Pharmaceuticals by 13.4%, owning 10,298 shares valued at $4.58 million after selling 1,595 shares in the 2nd quarter.
• Major institutional investors like Vanguard Group and Price T Rowe Associates have increased their stakes, demonstrating significant confidence in the company as they collectively own nearly 91% of Vertex's stock.
• Vertex Pharmaceuticals recently reported better-than-expected earnings, with a quarterly EPS of $4.52 and revenue of $2.94 billion, surpassing analyst estimates.

Greenwood Capital Associates LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,298 shares of the pharmaceutical company's stock after selling 1,595 shares during the period. Greenwood Capital Associates LLC's holdings in Vertex Pharmaceuticals were worth $4,585,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after buying an additional 232,873 shares during the period. Jennison Associates LLC boosted its position in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after purchasing an additional 744,680 shares during the period. Alliancebernstein L.P. boosted its position in shares of Vertex Pharmaceuticals by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock worth $1,916,742,000 after purchasing an additional 33,492 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock worth $1,414,331,000 after purchasing an additional 1,226,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Vertex Pharmaceuticals by 9.9% during the 1st 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 purchasing an additional 230,257 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In related 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 purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $408.85 on Friday. The company's fifty day moving average price is $400.44 and its 200 day moving average price is $443.73. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The firm has a market capitalization of $104.83 billion, a P/E ratio of 29.22 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the business earned ($12.83) EPS. Vertex Pharmaceuticals's revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on VRTX. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. Cantor Fitzgerald reduced their price objective on shares of 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 reduced their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a report on Wednesday, August 6th. Finally, Citigroup raised their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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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