Truist Financial Corp Has $91.70 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Truist Financial Corp lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,356 shares of the pharmaceutical company’s stock after selling 1,707 shares during the quarter. Truist Financial Corp owned about 0.09% of Vertex Pharmaceuticals worth $91,695,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in VRTX. Sherbrooke Park Advisers LLC grew its holdings in shares of Vertex Pharmaceuticals by 65.3% during the third quarter. Sherbrooke Park Advisers LLC now owns 2,645 shares of the pharmaceutical company’s stock worth $920,000 after buying an additional 1,045 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Vertex Pharmaceuticals by 6.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 432,937 shares of the pharmaceutical company’s stock valued at $150,550,000 after buying an additional 26,523 shares during the last quarter. Telos Capital Management Inc. lifted its holdings in Vertex Pharmaceuticals by 1.6% during the 4th quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock worth $6,133,000 after purchasing an additional 237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Vertex Pharmaceuticals by 1.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 427,001 shares of the pharmaceutical company’s stock worth $148,485,000 after purchasing an additional 5,514 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $816,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ VRTX traded down $0.22 during trading on Friday, reaching $397.48. 682,467 shares of the stock were exchanged, compared to its average volume of 909,553. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $411.60 and its 200 day moving average price is $398.67. The company has a market capitalization of $102.73 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 1.87 and a beta of 0.35. Vertex Pharmaceuticals Incorporated has a twelve month low of $320.01 and a twelve month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.85 by $0.35. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. During the same quarter in the previous year, the firm earned $3.33 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now directly owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 480 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $420.79, for a total value of $201,979.20. Following the transaction, the executive vice president now owns 59,827 shares in the company, valued at approximately $25,174,603.33. The disclosure for this sale can be found here. In the last three months, insiders sold 12,381 shares of company stock valued at $5,203,249. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRTX. Sanford C. Bernstein downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 2nd. Barclays increased their target price on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Maxim Group cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. raised their target price on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company raised their target price on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $429.45.

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.