Vontobel Holding Ltd. Decreases Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Vontobel Holding Ltd. has reduced its stake in Vertex Pharmaceuticals by 4.0%, decreasing its holdings to 71,798 shares valued at approximately $31.96 million.
• Shares of Vertex Pharmaceuticals recently opened at $414.86, showing a 1.5% decline and reflecting a market cap of $106.37 billion.
• Analysts have mixed ratings on Vertex, with one stating a "Strong Buy" rating, while others have issued varying ratings, resulting in a consensus rating of "Moderate Buy."

Vontobel Holding Ltd. decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,798 shares of the pharmaceutical company's stock after selling 3,008 shares during the period. Vontobel Holding Ltd.'s holdings in Vertex Pharmaceuticals were worth $31,964,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisor OS LLC raised its position in shares of Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock valued at $263,000 after buying an additional 23 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Vertex Pharmaceuticals by 2.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock valued at $594,000 after buying an additional 25 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after buying an additional 25 shares in the last quarter. Newman Dignan & Sheerar Inc. raised its position in Vertex Pharmaceuticals by 3.3% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company's stock worth $350,000 after purchasing an additional 25 shares during the period. Finally, Hager Investment Management Services LLC raised its position in Vertex Pharmaceuticals by 0.5% in the 1st quarter. Hager Investment Management Services LLC now owns 5,411 shares of the pharmaceutical company's stock worth $2,623,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analyst Ratings Changes

VRTX has been the topic of a number of analyst reports. Wall Street Zen cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. lifted their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an "overweight" rating in a research report on Wednesday. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "market perform" rating on the stock. Canaccord Genuity Group decreased their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research report on Wednesday, August 6th. Finally, Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $494.43.

Vertex Pharmaceuticals Stock Down 1.5%

Shares of Vertex Pharmaceuticals stock opened at $414.86 on Friday. The firm has a market cap of $106.37 billion, a PE ratio of 29.65 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88. The company's fifty day simple moving average is $394.99 and its two-hundred day simple moving average is $440.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company's revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs bought 5,000 shares of the business's stock in a transaction dated 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 purchase, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company's stock.

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.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.