Lockheed Martin Investment Management Co. Has $4.84 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Lockheed Martin Investment Management Co. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 34.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,860 shares of the pharmaceutical company’s stock after buying an additional 2,760 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $4,835,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $32,000. American National Bank & Trust boosted its stake in Vertex Pharmaceuticals by 515.4% during the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 67 shares during the last quarter. Finally, Solstein Capital LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $40,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.6%

NASDAQ:VRTX opened at $419.89 on Friday. The stock has a market capitalization of $107.66 billion, a PE ratio of 30.01 and a beta of 0.43. The firm’s 50 day moving average is $401.10 and its 200 day moving average is $432.92. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. Vertex Pharmaceuticals’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 5th. Evercore ISI cut their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. Raymond James Financial initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating on the stock. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group cut their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $492.10.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares of the company’s stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.