Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Wedmont Private Capital

Key Points

• Wedmont Private Capital increased its position in Vertex Pharmaceuticals by 21.3%, acquiring an additional 929 shares during the second quarter, bringing their total holdings to 5,284 shares valued at $2.53 million.
• Director Bruce I. Sachs purchased 5,000 shares at an average price of $389.68 per share, which increased his stake in the company by 12.50% to a total of 45,000 shares worth approximately $17.54 million.
• Vertex Pharmaceuticals reported earnings per share of $4.52 for the last quarter, exceeding analyst expectations, with a year-over-year revenue growth of 11.3% to $2.94 billion.

Wedmont Private Capital raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 21.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,284 shares of the pharmaceutical company's stock after purchasing an additional 929 shares during the quarter. Wedmont Private Capital's holdings in Vertex Pharmaceuticals were worth $2,531,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 1.0% in the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after purchasing an additional 232,873 shares during the period. Jennison Associates LLC raised its position in Vertex Pharmaceuticals by 17.2% in the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after purchasing an additional 744,680 shares during the period. Alliancebernstein L.P. increased its position in shares of Vertex Pharmaceuticals by 0.9% during the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock worth $1,916,742,000 after acquiring an additional 33,492 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Vertex Pharmaceuticals by 72.5% during the first 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 acquiring an additional 1,226,527 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Vertex Pharmaceuticals by 9.9% in the first 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 valued at $1,240,885,000 after purchasing an additional 230,257 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 0.0%

Vertex Pharmaceuticals stock traded up $0.01 during midday trading on Monday, hitting $383.13. The stock had a trading volume of 1,469,577 shares, compared to its average volume of 1,490,884. The stock has a market cap of $98.23 billion, a P/E ratio of 27.39 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The business has a fifty day moving average price of $412.66 and a 200 day moving average price of $449.11.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results 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 return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm posted ($12.83) earnings per share. Vertex Pharmaceuticals's quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VRTX shares. HC Wainwright lowered their price objective on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Raymond James Financial started coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a "market perform" rating for the company. Truist Financial set a $490.00 price objective on Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada lowered their price objective on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $496.05.

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.