Federated Hermes Inc. Has $76.14 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Federated Hermes Inc. reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 189,075 shares of the pharmaceutical company’s stock after selling 2,864 shares during the quarter. Federated Hermes Inc.’s holdings in Vertex Pharmaceuticals were worth $76,141,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $1,374,948,000. Parnassus Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $731,283,000. Edgewood Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 91.2% in the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company’s stock valued at $1,190,626,000 after purchasing an additional 1,410,238 shares during the period. Wellington Management Group LLP boosted its position in shares of Vertex Pharmaceuticals by 23.3% in the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $435,899,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.9 %

Shares of VRTX stock opened at $474.62 on Monday. The firm’s fifty day moving average price is $481.54 and its two-hundred day moving average price is $463.66. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year 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. The firm has a market capitalization of $121.88 billion, a P/E ratio of -215.74, a PEG ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on VRTX shares. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their target price for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Piper Sandler lowered their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $509.17.

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.