Segment Wealth Management LLC Boosts Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Segment Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,843 shares of the pharmaceutical company’s stock after buying an additional 151 shares during the period. Segment Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in VRTX. Price T Rowe Associates Inc. MD raised its position in shares of Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock valued at $1,414,331,000 after buying an additional 1,226,527 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $484,053,000. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock valued at $2,454,373,000 after buying an additional 744,680 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock valued at $860,650,000 after buying an additional 398,460 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of Vertex Pharmaceuticals by 456.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock valued at $209,347,000 after buying an additional 354,269 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, 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 the SEC website. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.4%

Shares of Vertex Pharmaceuticals stock opened at $403.30 on Friday. The firm has a market cap of $103.40 billion, a PE ratio of 28.83 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. The company’s fifty day simple moving average is $399.12 and its two-hundred day simple moving average is $442.98.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping 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 firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the company posted ($12.83) EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. 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 fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent research reports. Royal Bank Of Canada reduced their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. BMO Capital Markets set a $530.00 target price on shares of Vertex Pharmaceuticals and gave the company an “outperform” rating in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Saturday, September 27th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $458.00 to $456.00 in a report on Thursday, September 25th. 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 stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $493.81.

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.