Vertex Pharmaceuticals Incorporated $VRTX Stock Position Raised by New York Life Investment Management LLC

New York Life Investment Management LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 38,900 shares of the pharmaceutical company’s stock after buying an additional 294 shares during the period. New York Life Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $17,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Howard Capital Management Inc. grew its position in Vertex Pharmaceuticals by 34.4% in the 2nd quarter. Howard Capital Management Inc. now owns 8,918 shares of the pharmaceutical company’s stock worth $3,970,000 after purchasing an additional 2,282 shares during the last quarter. Motley Fool Wealth Management LLC grew its position in Vertex Pharmaceuticals by 63.1% in the 2nd quarter. Motley Fool Wealth Management LLC now owns 53,913 shares of the pharmaceutical company’s stock worth $24,002,000 after purchasing an additional 20,864 shares during the last quarter. Motley Fool Asset Management LLC grew its position in Vertex Pharmaceuticals by 13.5% in the 2nd quarter. Motley Fool Asset Management LLC now owns 15,794 shares of the pharmaceutical company’s stock worth $7,031,000 after purchasing an additional 1,875 shares during the last quarter. May Hill Capital LLC grew its position in Vertex Pharmaceuticals by 6.3% in the 2nd quarter. May Hill Capital LLC now owns 673 shares of the pharmaceutical company’s stock worth $300,000 after purchasing an additional 40 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $243,000. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost 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 in the company, 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 filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VRTX has been the subject of several recent analyst reports. Cantor Fitzgerald decreased 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 report on Tuesday, August 5th. Citigroup increased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $458.00 to $456.00 in a report on Thursday, September 25th. Guggenheim decreased their price objective on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $494.38.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $420.17 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The firm has a market cap of $107.73 billion, a PE ratio of 30.03 and a beta of 0.43. The firm has a 50 day simple moving average of $399.56 and a 200 day simple moving average of $433.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business earned ($12.83) earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. 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 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.