Baird Financial Group Inc. Lowers Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Baird Financial Group Inc. decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,001 shares of the pharmaceutical company’s stock after selling 370 shares during the quarter. Baird Financial Group Inc.’s holdings in Vertex Pharmaceuticals were worth $7,758,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of VRTX. Activest Wealth Management purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Vertex Pharmaceuticals by 450.0% during the first 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 Vertex Pharmaceuticals during the fourth quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $396.62 on Thursday. The company has a market cap of $101.69 billion, a PE ratio of 28.35 and a beta of 0.44. The stock’s 50 day simple moving average is $430.33 and its 200-day simple moving average is $457.38. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88.

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

Analyst Ratings Changes

VRTX has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Cantor Fitzgerald lowered their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Erste Group Bank downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $497.10.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased 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. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available 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.