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Here's Why Vertex Pharmaceuticals (VRTX) Gained But Lagged the Market Today
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The latest trading session saw Vertex Pharmaceuticals (VRTX - Free Report) ending at $495.91, denoting a +0.88% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.08%. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Coming into today, shares of the drugmaker had gained 4.88% in the past month. In that same time, the Medical sector gained 0.31%, while the S&P 500 gained 0.43%.
Investors will be eagerly watching for the performance of Vertex Pharmaceuticals in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. The company is expected to report EPS of $4.14, up 6.43% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $2.64 billion, indicating a 6.01% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.02 per share and a revenue of $10.73 billion, representing changes of +11.75% and +8.69%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Vertex Pharmaceuticals. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Vertex Pharmaceuticals possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Vertex Pharmaceuticals currently has a Forward P/E ratio of 28.88. This represents a premium compared to its industry's average Forward P/E of 24.36.
It is also worth noting that VRTX currently has a PEG ratio of 2.26. 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. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 2.27.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why Vertex Pharmaceuticals (VRTX) Gained But Lagged the Market Today
The latest trading session saw Vertex Pharmaceuticals (VRTX - Free Report) ending at $495.91, denoting a +0.88% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.08%. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Coming into today, shares of the drugmaker had gained 4.88% in the past month. In that same time, the Medical sector gained 0.31%, while the S&P 500 gained 0.43%.
Investors will be eagerly watching for the performance of Vertex Pharmaceuticals in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. The company is expected to report EPS of $4.14, up 6.43% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $2.64 billion, indicating a 6.01% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.02 per share and a revenue of $10.73 billion, representing changes of +11.75% and +8.69%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Vertex Pharmaceuticals. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Vertex Pharmaceuticals possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Vertex Pharmaceuticals currently has a Forward P/E ratio of 28.88. This represents a premium compared to its industry's average Forward P/E of 24.36.
It is also worth noting that VRTX currently has a PEG ratio of 2.26. 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. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 2.27.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.