Resonant Capital Advisors LLC Grows Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Resonant Capital Advisors LLC raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,558 shares of the pharmaceutical company’s stock after buying an additional 108 shares during the period. Resonant Capital Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $694,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. United Services Automobile Association acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $2,933,000. Lee Johnson Capital Management LLC purchased a new stake in Vertex Pharmaceuticals during the second quarter worth $721,000. SteelPeak Wealth LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at $10,059,000. Moody Lynn & Lieberson LLC grew its holdings in Vertex Pharmaceuticals by 1.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after purchasing an additional 822 shares during the last quarter. Finally, New England Research & Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $472,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.3%

NASDAQ VRTX opened at $421.39 on Monday. The business’s 50-day moving average price is $398.96 and its 200 day moving average price is $434.28. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The company has a market capitalization of $108.04 billion, a PE ratio of 30.12 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 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. The company 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 company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VRTX. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating on the stock. Royal Bank Of Canada lowered their price target on shares of 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 objective on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Stifel Nicolaus cut their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a report on Tuesday, August 5th. 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 stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $494.38.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director directly 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 acquisition was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate 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.