Syverson Strege & Co Invests $283,000 in Vertex Pharmaceuticals Incorporated $VRTX

Syverson Strege & Co acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 635 shares of the pharmaceutical company’s stock, valued at approximately $283,000.

Several other large investors also recently modified their holdings of VRTX. Brighton Jones LLC grew its stake in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after buying an additional 579 shares during the period. Rossby Financial LCC bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $108,000. Keybank National Association OH boosted its holdings in Vertex Pharmaceuticals by 0.7% in the first quarter. Keybank National Association OH now owns 12,201 shares of the pharmaceutical company’s stock worth $5,915,000 after acquiring an additional 83 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Vertex Pharmaceuticals by 778.4% in the first quarter. First Horizon Advisors Inc. now owns 19,315 shares of the pharmaceutical company’s stock worth $9,364,000 after acquiring an additional 17,116 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 14.4% in the first quarter. Resonant Capital Advisors LLC now owns 1,450 shares of the pharmaceutical company’s stock worth $703,000 after acquiring an additional 183 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Scotiabank dropped their price objective on shares of 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. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective on the stock in a research note on Wednesday, August 6th. Guggenheim dropped their price objective on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Stifel Nicolaus dropped their price objective on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $492.10.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $425.57 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The company has a 50-day simple moving average of $401.71 and a 200 day simple moving average of $432.43. The company has a market capitalization of $109.11 billion, a PE ratio of 30.42 and a beta of 0.43.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares of the company’s stock, 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 SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

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.