Principal Financial Group Inc. Buys 40,005 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Principal Financial Group Inc. raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 368,728 shares of the pharmaceutical company's stock after buying an additional 40,005 shares during the period. Principal Financial Group Inc. owned about 0.14% of Vertex Pharmaceuticals worth $150,032,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $25,000. Arlington Trust Co LLC boosted its position in shares of Vertex Pharmaceuticals by 97.1% during the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 33 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Baystate Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 49.0% during the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company's stock valued at $31,000 after purchasing an additional 25 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $34,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Up 1.7 %

VRTX traded up $7.15 during midday trading on Monday, reaching $429.93. 939,648 shares of the company's stock traded hands, compared to its average volume of 1,223,705. The firm has a fifty day moving average of $407.62 and a two-hundred day moving average of $401.88. The stock has a market capitalization of $110.94 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 2.06 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. Vertex Pharmaceuticals Incorporated has a 52 week low of $320.01 and a 52 week high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating analysts' consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. Vertex Pharmaceuticals's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.67 EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares in the company, valued at approximately $23,755,762.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on VRTX. Robert W. Baird downgraded Vertex Pharmaceuticals from a "neutral" rating to an "underperform" rating and set a $325.00 price objective for the company. in a research note on Wednesday, January 31st. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 6th. Canaccord Genuity Group reissued a "sell" rating and issued a $371.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Oppenheimer reissued an "outperform" rating and issued a $500.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their price target on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $432.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.