Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its holdings in Vertex Pharmaceuticals by 16.7% during the first quarter, currently owning approximately 0.47% (1,208,668 shares) of the company worth $585,986,000.
• Multiple institutional investors increased their stakes, with Vanguard Group owning $11.39 billion worth of shares after a 1.0% increase and Price T Rowe Associates expanding their position by 72.5%.
• Vertex Pharmaceuticals recently reported an earnings per share (EPS) of $4.52, surpassing estimates, with an 11.3% year-over-year revenue growth totaling $2.94 billion for the last quarter.

Royal Bank of Canada decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 16.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,208,668 shares of the pharmaceutical company's stock after selling 242,291 shares during the period. Royal Bank of Canada owned about 0.47% of Vertex Pharmaceuticals worth $585,986,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Quent Capital LLC boosted its stake in shares of Vertex Pharmaceuticals by 4.5% during the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after acquiring an additional 22 shares during the last quarter. Advisor OS LLC lifted its position in Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after buying an additional 23 shares during the period. Sculati Wealth Management LLC lifted its position in Vertex Pharmaceuticals by 1.0% during the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after buying an additional 25 shares during the period. Avidian Wealth Enterprises LLC lifted its position in Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after buying an additional 25 shares during the period. Finally, Strategic Blueprint LLC lifted its position in Vertex Pharmaceuticals by 1.7% during the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded down $4.38 during trading hours on Wednesday, reaching $396.62. The company had a trading volume of 1,237,261 shares, compared to its average volume of 2,441,718. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The company has a market capitalization of $101.69 billion, a P/E ratio of 28.35 and a beta of 0.44. The stock's fifty day simple moving average is $430.33 and its 200 day simple moving average is $457.38.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm earned ($12.83) earnings per share. The company'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. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity

In related news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was 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. This represents a 12.50% increase in their ownership of the stock. The transaction 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.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partners reiterated a "market perform" rating and set a $503.00 target price (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Cantor Fitzgerald reduced their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. Finally, UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $497.10.

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.