Fifth Third Bancorp Lowers Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Fifth Third Bancorp has reduced its stake in Vertex Pharmaceuticals by 6.1%, now holding 24,224 shares valued at $10.79 million.
• Vertex Pharmaceuticals reported $4.52 earnings per share (EPS) for the last quarter, exceeding expectations of $4.24, with revenues of $2.94 billion.
• Multiple analysts have set price targets for Vertex, with UBS Group having the highest target at $553 and a consensus target of $493.81 among 28 analysts.

Fifth Third Bancorp decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,224 shares of the pharmaceutical company's stock after selling 1,585 shares during the quarter. Fifth Third Bancorp's holdings in Vertex Pharmaceuticals were worth $10,785,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals in the 1st quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $31,000. Flaharty Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $32,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $381.87 on Friday. The stock has a market cap of $97.91 billion, a PE ratio of 27.30 and a beta of 0.44. The stock's fifty day moving average is $407.48 and its two-hundred day moving average is $447.31. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same period in the prior year, the firm posted ($12.83) EPS. The business's quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on VRTX. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. Evercore ISI cut their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. HC Wainwright decreased their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Morgan Stanley set a $439.00 target price on Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald cut their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $493.81.

Insider Buying and Selling

In related news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

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.

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