Hager Investment Management Services LLC Decreases Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Hager Investment Management Services LLC lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,345 shares of the pharmaceutical company’s stock after selling 66 shares during the period. Vertex Pharmaceuticals makes up approximately 1.4% of Hager Investment Management Services LLC’s holdings, making the stock its 25th largest holding. Hager Investment Management Services LLC’s holdings in Vertex Pharmaceuticals were worth $2,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Vertex Pharmaceuticals by 1.0% in the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company’s stock worth $11,388,985,000 after purchasing an additional 232,873 shares during the period. Jennison Associates LLC increased its stake in Vertex Pharmaceuticals by 17.2% in the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock worth $2,454,373,000 after purchasing an additional 744,680 shares during the period. Alliancebernstein L.P. increased its stake in Vertex Pharmaceuticals by 0.9% in the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock worth $1,916,742,000 after purchasing an additional 33,492 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Vertex Pharmaceuticals by 72.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock worth $1,414,331,000 after purchasing an additional 1,226,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Vertex Pharmaceuticals by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company’s stock worth $1,240,885,000 after purchasing an additional 230,257 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $421.15 on Thursday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The stock’s 50-day moving average is $395.83 and its 200 day moving average is $440.97. The company has a market cap of $107.98 billion, a P/E ratio of 30.10 and a beta of 0.43.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VRTX shares. Leerink Partners upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Guggenheim reduced their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Scotiabank reduced their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. JPMorgan Chase & Co. increased their price target on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday. One research 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. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $494.43.

Insiders Place Their Bets

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 completion of the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

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.