Fifth Third Bancorp Has $10.51 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fifth Third Bancorp cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,103 shares of the pharmaceutical company’s stock after selling 937 shares during the quarter. Fifth Third Bancorp’s holdings in Vertex Pharmaceuticals were worth $10,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 0.6% during the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the period. Daymark Wealth Partners LLC increased its holdings in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after buying an additional 22 shares during the period. Grove Bank & Trust raised its stake in shares of Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after buying an additional 22 shares in the last quarter. Outlook Wealth Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock worth $415,000 after acquiring an additional 24 shares during the period. Finally, Dunhill Financial LLC boosted its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VRTX shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lowered their target price on shares of Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada lifted their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $494.84.

Vertex Pharmaceuticals Stock Down 0.0 %

VRTX stock opened at $439.62 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The business’s 50-day moving average price is $435.36 and its two-hundred day moving average price is $464.66. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the business earned $3.67 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current 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.