Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,799 shares of the pharmaceutical company’s stock after purchasing an additional 1,890 shares during the quarter. Vertex Pharmaceuticals makes up about 2.0% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 15th largest holding. Bowen Hanes & Co. Inc. owned about 0.07% of Vertex Pharmaceuticals worth $80,492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisor OS LLC grew 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 during the last quarter. Costello Asset Management INC boosted 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 valued at $307,000 after acquiring an additional 24 shares during the period. Kovack Advisors Inc. grew its holdings in shares of Vertex Pharmaceuticals by 1.9% during the second quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock valued at $570,000 after purchasing an additional 24 shares during the last quarter. Newman Dignan & Sheerar Inc. raised its position in shares of Vertex Pharmaceuticals by 3.3% during 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, Eastern Bank lifted its holdings in shares of Vertex Pharmaceuticals by 1.6% in the 2nd quarter. Eastern Bank now owns 1,635 shares of the pharmaceutical company’s stock worth $728,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VRTX shares. Wall Street Zen lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. BMO Capital Markets set a $530.00 price objective on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Cantor Fitzgerald reduced their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, August 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus cut their price target on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $491.95.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the sale, the chairman directly owned 24,026 shares in the company, valued at $10,588,738.72. The trade was a 69.05% decrease 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 Stock Performance

Shares of VRTX stock opened at $426.76 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The business’s fifty day moving average is $411.39 and its 200-day moving average is $425.24. The stock has a market cap of $108.28 billion, a PE ratio of 30.50 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.22. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $4.38 earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.