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Vertex Pharmaceuticals (VRTX) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest trading session, Vertex Pharmaceuticals (VRTX - Free Report) closed at $397.58, marking a -1.71% move from the previous day. This change lagged the S&P 500's 0.95% loss on the day. At the same time, the Dow lost 1.09%, and the tech-heavy Nasdaq lost 0.84%.
Prior to today's trading, shares of the drugmaker had lost 1.93% over the past month. This has was narrower than the Medical sector's loss of 3.76% and lagged the S&P 500's gain of 1.78% in that time.
Market participants will be closely following the financial results of Vertex Pharmaceuticals in its upcoming release. The company plans to announce its earnings on May 6, 2024. The company's earnings per share (EPS) are projected to be $4.07, reflecting a 33.44% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2.55 billion, up 7.34% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $16.79 per share and a revenue of $10.69 billion, representing changes of +10.24% and +8.27%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Vertex Pharmaceuticals. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% decrease. Vertex Pharmaceuticals is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Vertex Pharmaceuticals has a Forward P/E ratio of 24.08 right now. This signifies a premium in comparison to the average Forward P/E of 23.82 for its industry.
Also, we should mention that VRTX has a PEG ratio of 1.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.88 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Vertex Pharmaceuticals (VRTX) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, Vertex Pharmaceuticals (VRTX - Free Report) closed at $397.58, marking a -1.71% move from the previous day. This change lagged the S&P 500's 0.95% loss on the day. At the same time, the Dow lost 1.09%, and the tech-heavy Nasdaq lost 0.84%.
Prior to today's trading, shares of the drugmaker had lost 1.93% over the past month. This has was narrower than the Medical sector's loss of 3.76% and lagged the S&P 500's gain of 1.78% in that time.
Market participants will be closely following the financial results of Vertex Pharmaceuticals in its upcoming release. The company plans to announce its earnings on May 6, 2024. The company's earnings per share (EPS) are projected to be $4.07, reflecting a 33.44% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2.55 billion, up 7.34% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $16.79 per share and a revenue of $10.69 billion, representing changes of +10.24% and +8.27%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Vertex Pharmaceuticals. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% decrease. Vertex Pharmaceuticals is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Vertex Pharmaceuticals has a Forward P/E ratio of 24.08 right now. This signifies a premium in comparison to the average Forward P/E of 23.82 for its industry.
Also, we should mention that VRTX has a PEG ratio of 1.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.88 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.