Heartwood Wealth Advisors LLC Boosts Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Heartwood Wealth Advisors LLC lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.6% in the second quarter, Holdings Channel.com reports. The firm owned 568 shares of the pharmaceutical company’s stock after purchasing an additional 30 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth about $31,000. Flaharty Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth about $32,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth about $40,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on VRTX. Evercore ISI cut their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday. Cantor Fitzgerald lowered their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, August 5th. Guggenheim lowered their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $496.05.

Vertex Pharmaceuticals Price Performance

VRTX opened at $394.53 on Monday. The business has a 50 day simple moving average of $422.66 and a two-hundred day simple moving average of $453.23. The firm has a market capitalization of $101.15 billion, a price-to-earnings ratio of 28.20 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly 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. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction on 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 transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by 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.