Is Vertex Pharmaceuticals About to Become a Dividend Stock?
Vertex Pharmaceuticals (NASDAQ: VRTX) announced stellar third-quarter results last week. The big-biotech's revenue jumped 18% year over year to $2.33 billion. Its adjusted earnings rose 14% to $1.04 billion, or $4.01 per share, easily topping the consensus Wall Street estimate.
The company also raised its full-year 2022 revenue guidance. Vertex now expects revenue of between $8.8 billion to $8.9 billion, up from its previous outlook of revenue in the range of $8.6 billion to $8.8 billion.
But perhaps the most intriguing thing about Vertex's latest update was a question posed in the Q3 earnings call by an analyst. Salveen Richter from Goldman Sachs noted the company's growing cash stockpile and asked if there were plans to initiate a dividend. Is Vertex about to become a dividend stock?
Source Fool.com
