Notis McConarty Edward Increases Position in Vertex Pharmaceuticals Incorporated $VRTX

Notis McConarty Edward lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,381 shares of the pharmaceutical company’s stock after buying an additional 106 shares during the period. Vertex Pharmaceuticals accounts for approximately 1.6% of Notis McConarty Edward’s portfolio, making the stock its 24th largest holding. Notis McConarty Edward’s holdings in Vertex Pharmaceuticals were worth $3,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisor OS LLC lifted its position in Vertex Pharmaceuticals by 4.4% in the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock valued at $263,000 after purchasing an additional 23 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in Vertex Pharmaceuticals by 2.1% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock valued at $594,000 after purchasing an additional 25 shares during the last quarter. Strategic Blueprint LLC lifted its position in Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock valued at $726,000 after purchasing an additional 25 shares during the last quarter. Newman Dignan & Sheerar Inc. lifted 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 valued at $350,000 after purchasing an additional 25 shares during the last quarter. Finally, Hager Investment Management Services LLC lifted 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 valued at $2,623,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on VRTX shares. Morgan Stanley set a $439.00 price objective on shares of Vertex Pharmaceuticals and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. Canaccord Genuity Group dropped their price target 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, Raymond James Financial started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $494.43.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $421.15 on Thursday. The firm’s 50 day moving average is $395.83 and its 200-day moving average is $440.97. The stock has a market capitalization of $107.98 billion, a P/E ratio of 30.10 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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion for 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 business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.

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.