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

Fifth Third Bancorp decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $27,000. Dunhill Financial LLC raised its holdings in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Finally, Truvestments Capital LLC bought a new position in Vertex Pharmaceuticals in the third quarter valued at approximately $35,000. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the subject of several analyst reports. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Canaccord Genuity Group boosted their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. UBS Group boosted their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company reduced their target price on Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $494.84.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $439.62 on Friday. 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 Incorporated has a 12-month low of $377.85 and a 12-month 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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $3.67 earnings per share. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current year.

Vertex Pharmaceuticals Profile

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.