Tealwood Asset Management Inc. Trims Stake in Vertex Pharmaceuticals Incorporated $VRTX

Tealwood Asset Management Inc. reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,466 shares of the pharmaceutical company’s stock after selling 83 shares during the period. Tealwood Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $1,543,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. United Services Automobile Association bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth $2,933,000. Aries Wealth Management bought a new position in shares of Vertex Pharmaceuticals during the first quarter valued at about $293,000. New England Research & Management Inc. bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $472,000. Paladin Wealth LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $552,000. Finally, Andrew Hill Investment Advisors Inc. increased its position in shares of Vertex Pharmaceuticals by 21.8% during the second quarter. Andrew Hill Investment Advisors Inc. now owns 8,003 shares of the pharmaceutical company’s stock valued at $3,563,000 after buying an additional 1,430 shares during the period. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VRTX. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Cantor Fitzgerald cut their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating on the stock. HC Wainwright lowered their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th. Finally, BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $493.81.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs bought 5,000 shares of the company’s stock in a transaction 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 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.5%

Vertex Pharmaceuticals stock opened at $395.31 on Tuesday. The firm has a 50-day moving average price of $404.74 and a 200-day moving average price of $445.10. The firm has a market capitalization of $101.35 billion, a PE ratio of 28.26 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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 net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business posted ($12.83) EPS. The firm’s revenue for the quarter 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 predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.