Principal Financial Group Inc. Has $190.85 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Principal Financial Group Inc. increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 410,359 shares of the pharmaceutical company's stock after purchasing an additional 21,649 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Vertex Pharmaceuticals worth $190,850,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Dunhill Financial LLC grew its position in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $33,000. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on VRTX shares. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. BMO Capital Markets dropped their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an "outperform" rating on the stock in a research report on Friday. Barclays reduced their price target on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an "equal weight" rating for the company in a report on Friday. StockNews.com lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 21st. Finally, HC Wainwright cut their price objective on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a "buy" rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $499.77.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded up $0.63 during trading hours on Friday, reaching $397.27. 6,202,268 shares of the company's stock were exchanged, compared to its average volume of 1,238,190. The firm has a fifty day moving average of $472.10 and a 200-day moving average of $475.81. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The stock has a market cap of $102.31 billion, a PE ratio of -199.63 and a beta of 0.36. 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 - Get Free Report) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the prior year, the business earned $3.67 earnings per share. The business's revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share 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.