Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,622 shares of the pharmaceutical company’s stock after selling 119 shares during the period. Fifth Third Bancorp’s holdings in Vertex Pharmaceuticals were worth $12,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in VRTX. Brookstone Capital Management increased its stake in shares of Vertex Pharmaceuticals by 11.1% during the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after acquiring an additional 237 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Vertex Pharmaceuticals by 15.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,897 shares of the pharmaceutical company’s stock worth $12,497,000 after acquiring an additional 3,999 shares during the period. Brevan Howard Capital Management LP increased its stake in Vertex Pharmaceuticals by 216.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock valued at $1,965,000 after purchasing an additional 3,303 shares during the last quarter. Greenwood Capital Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 11.3% during the 4th quarter. Greenwood Capital Associates LLC now owns 25,345 shares of the pharmaceutical company’s stock valued at $10,313,000 after acquiring an additional 2,576 shares during the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services purchased a new position in Vertex Pharmaceuticals during the first quarter worth approximately $2,763,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at $11,088,728.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Ourania Tatsis sold 2,350 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the sale, the executive vice president now directly owns 53,523 shares in the company, valued at approximately $23,502,484.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. The disclosure for this sale can be found here. Insiders sold 48,630 shares of company stock worth $23,447,151 in the last quarter. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several research reports. Truist Financial reiterated a “buy” rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. BMO Capital Markets boosted their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Finally, Guggenheim boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Hold” and an average target price of $485.91.

Vertex Pharmaceuticals Stock Down 0.3 %

Vertex Pharmaceuticals stock traded down $1.26 during midday trading on Wednesday, reaching $486.11. The stock had a trading volume of 810,004 shares, compared to its average volume of 1,212,720. The company has a market capitalization of $125.46 billion, a P/E ratio of 31.63 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 12 month low of $340.83 and a 12 month high of $510.64. The company has a fifty day moving average price of $480.75 and a two-hundred day moving average price of $443.13. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.53 EPS. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

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.