Principal Financial Group Inc. Has $159.68 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Principal Financial Group Inc. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 396,532 shares of the pharmaceutical company's stock after selling 13,827 shares during the period. Principal Financial Group Inc. owned 0.15% of Vertex Pharmaceuticals worth $159,683,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Dunhill Financial LLC increased its stake in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 24 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $33,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $30,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of analyst reports. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Stifel Nicolaus lifted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a "hold" rating in a research note on Monday, December 16th. StockNews.com cut Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Wednesday. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Finally, Scotiabank lifted their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $505.61.

Vertex Pharmaceuticals Stock Up 0.8 %

Shares of Vertex Pharmaceuticals stock traded up $3.91 during trading on Friday, reaching $484.24. The stock had a trading volume of 1,444,007 shares, compared to its average volume of 1,541,286. The company has a market capitalization of $124.35 billion, a price-to-earnings ratio of -220.11, a P/E/G ratio of 2.07 and a beta of 0.41. The stock has a fifty day moving average price of $436.05 and a two-hundred day moving average price of $460.70. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly 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 net margin of 4.86% and a negative return on equity of 2.02%. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current fiscal 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.