Federated Hermes Inc. Reduces Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Federated Hermes Inc. trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,075 shares of the pharmaceutical company's stock after selling 2,864 shares during the quarter. Federated Hermes Inc. owned 0.07% of Vertex Pharmaceuticals worth $76,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Insigneo Advisory Services LLC grew its holdings in shares of Vertex Pharmaceuticals by 5.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 1,314 shares of the pharmaceutical company's stock worth $611,000 after purchasing an additional 65 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 5.0% in the third quarter. EP Wealth Advisors LLC now owns 5,153 shares of the pharmaceutical company's stock valued at $2,397,000 after acquiring an additional 244 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Vertex Pharmaceuticals by 125.0% in the 3rd quarter. National Bank of Canada FI now owns 230,498 shares of the pharmaceutical company's stock worth $107,200,000 after acquiring an additional 128,061 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $489,000. Finally, World Investment Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $24,280,000. 90.96% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares of the company's stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock worth $2,121,012 in the last three months. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 1.8 %

VRTX stock traded up $8.73 during midday trading on Friday, reaching $484.22. 1,574,131 shares of the company traded hands, compared to its average volume of 1,325,555. The firm has a market capitalization of $124.34 billion, a price-to-earnings ratio of -220.10, a P/E/G ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The business has a 50 day moving average of $484.84 and a 200-day moving average of $464.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts' consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research reports. Oppenheimer lowered Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Bank of America increased their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Barclays boosted their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Royal Bank of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $512.41.

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.