Syverson Strege & Co Makes New $283,000 Investment in Vertex Pharmaceuticals Incorporated $VRTX

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. United Services Automobile Association bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth about $2,933,000. Lee Johnson Capital Management LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $721,000. SteelPeak Wealth LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $10,059,000. Moody Lynn & Lieberson LLC boosted its holdings in Vertex Pharmaceuticals by 1.4% in the 2nd 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 period. Finally, New England Research & Management Inc. bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $472,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $425.57 on Friday. The company has a 50 day simple moving average of $401.71 and a 200 day simple moving average of $432.43. The stock has a market cap of $109.11 billion, a price-to-earnings ratio of 30.42 and a beta of 0.43. 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 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 analysts’ expectations 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 period in the prior year, the company earned ($12.83) EPS. 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.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VRTX shares. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Citigroup boosted their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Morgan Stanley cut their price objective on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price target for the company in a report on Wednesday, August 6th. Finally, Canaccord Genuity Group cut their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $492.10.

About Vertex Pharmaceuticals

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.