Livforsakringsbolaget Skandia Omsesidigt Reduces Position in Vertex Pharmaceuticals Incorporated $VRTX

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 93.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,880 shares of the pharmaceutical company’s stock after selling 25,740 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Vertex Pharmaceuticals were worth $837,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VRTX. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals during the first quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd lifted its position in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares during the period. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at $31,000. Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals during the first quarter valued at $32,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at $40,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VRTX. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Royal Bank Of Canada decreased their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Scotiabank decreased their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. HC Wainwright decreased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research report on Tuesday, August 5th. Finally, BMO Capital Markets set a $530.00 price objective on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $496.05.

Vertex Pharmaceuticals Stock Down 0.5%

VRTX stock opened at $391.36 on Wednesday. The stock has a market capitalization of $100.34 billion, a P/E ratio of 27.97 and a beta of 0.44. The firm has a 50-day simple moving average of $419.84 and a 200-day simple moving average of $452.20. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity 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 stock was acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares of the company’s stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.