WCM Investment Management LLC Buys 64,730 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• WCM Investment Management LLC increased its stake in Vertex Pharmaceuticals by 5.9%, acquiring an additional 64,730 shares, bringing its total ownership to approximately 1.16 million shares valued at $513.5 million.
• Insider trading activity included a purchase of 5,000 shares by Director Bruce I. Sachs, increasing his position by 12.5% to a total of 45,000 shares valued at approximately $17.5 million.
• Vertex Pharmaceuticals reported earnings of $4.52 per share, surpassing analyst expectations, and announced a 11.3% increase in revenue compared to the previous year.

WCM Investment Management LLC grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,163,670 shares of the pharmaceutical company's stock after acquiring an additional 64,730 shares during the period. WCM Investment Management LLC owned about 0.45% of Vertex Pharmaceuticals worth $513,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor OS LLC lifted its stake in Vertex Pharmaceuticals by 4.4% in the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after purchasing an additional 23 shares during the last quarter. Costello Asset Management INC lifted its stake in Vertex Pharmaceuticals by 3.6% in the second quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company's stock worth $307,000 after purchasing an additional 24 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Vertex Pharmaceuticals by 2.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after purchasing an additional 25 shares during the last quarter. Strategic Blueprint LLC lifted its stake in Vertex Pharmaceuticals by 1.7% in the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after purchasing an additional 25 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. lifted its stake in Vertex Pharmaceuticals by 3.3% in the second 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 last quarter. 90.96% of the stock is owned by institutional investors.

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 Trading Down 1.0%

Shares of VRTX opened at $407.90 on Thursday. The firm's 50-day moving average price is $393.80 and its 200-day moving average price is $437.75. The firm has a market capitalization of $104.58 billion, a price-to-earnings ratio of 29.16 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The firm 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 for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the subject of several recent research reports. 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 note on Wednesday, August 6th. 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. UBS Group set a $553.00 price objective on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley decreased their price objective on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an "equal weight" rating on the stock in a research report on Friday, October 10th. Finally, Leerink Partners upgraded shares of Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $494.38.

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.

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