LPL Financial LLC Grows Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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LPL Financial LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,915 shares of the pharmaceutical company’s stock after acquiring an additional 823 shares during the period. LPL Financial LLC’s holdings in Vertex Pharmaceuticals were worth $12,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. BlackRock Inc. boosted its holdings in Vertex Pharmaceuticals by 14.3% during the second quarter. BlackRock Inc. now owns 25,507,898 shares of the pharmaceutical company’s stock worth $7,405,198,000 after buying an additional 3,181,850 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Vertex Pharmaceuticals by 273.9% during the second quarter. California Public Employees Retirement System now owns 2,179,324 shares of the pharmaceutical company’s stock worth $632,680,000 after buying an additional 1,596,444 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Vertex Pharmaceuticals by 26.4% during the second quarter. Nuveen Asset Management LLC now owns 3,478,383 shares of the pharmaceutical company’s stock worth $1,009,809,000 after buying an additional 726,720 shares in the last quarter. APG Asset Management N.V. boosted its holdings in Vertex Pharmaceuticals by 247.1% during the second quarter. APG Asset Management N.V. now owns 643,192 shares of the pharmaceutical company’s stock worth $166,251,000 after buying an additional 457,871 shares in the last quarter. Finally, GQG Partners LLC boosted its holdings in Vertex Pharmaceuticals by 62.0% during the second quarter. GQG Partners LLC now owns 1,162,804 shares of the pharmaceutical company’s stock worth $337,705,000 after buying an additional 445,157 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Vertex Pharmaceuticals stock opened at $215.21 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $197.47 and a 52-week high of $306.08. The company has a 50 day moving average of $230.24 and a 200 day moving average of $265.35. The company has a quick ratio of 3.60, a current ratio of 3.72 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $55.96 billion, a P/E ratio of 27.17, a P/E/G ratio of 1.25 and a beta of 0.79.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, October 29th. The pharmaceutical company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.68. Vertex Pharmaceuticals had a net margin of 38.51% and a return on equity of 28.55%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm’s quarterly revenue was up 61.9% on a year-over-year basis. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 8.5 earnings per share for the current fiscal year.

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 1,553 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $211.92, for a total transaction of $329,111.76. Following the sale, the executive vice president now owns 36,732 shares of the company’s stock, valued at $7,784,245.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce I. Sachs acquired 15,000 shares of the business’s stock in a transaction on Tuesday, November 10th. The shares were bought at an average cost of $217.36 per share, for a total transaction of $3,260,400.00. Following the acquisition, the director now owns 18,035 shares of the company’s stock, valued at approximately $3,920,087.60. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by company insiders.

VRTX has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Monday, October 26th. ValuEngine downgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, October 16th. Credit Suisse Group reduced their target price on shares of Vertex Pharmaceuticals from $292.00 to $285.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. Morgan Stanley reduced their target price on shares of Vertex Pharmaceuticals from $281.00 to $249.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals currently has an average rating of “Buy” and an average price target of $290.59.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 12 years of age or older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator, or CFTR, gene.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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