Manning & Napier Advisors LLC lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 45.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 885,868 shares of the pharmaceutical company’s stock after selling 745,258 shares during the period. Manning & Napier Advisors LLC owned about 0.35% of Vertex Pharmaceuticals worth $134,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Vertex Pharmaceuticals by 10.7% in the 3rd quarter. SG Americas Securities LLC now owns 15,282 shares of the pharmaceutical company’s stock worth $2,323,000 after purchasing an additional 1,473 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Vertex Pharmaceuticals by 19.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,625 shares of the pharmaceutical company’s stock worth $1,159,000 after acquiring an additional 1,242 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Vertex Pharmaceuticals by 1.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 785,050 shares of the pharmaceutical company’s stock worth $119,359,000 after acquiring an additional 8,064 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Vertex Pharmaceuticals by 2.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,372 shares of the pharmaceutical company’s stock worth $8,875,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Vertex Pharmaceuticals by 1.1% in the third quarter. Comerica Bank now owns 60,413 shares of the pharmaceutical company’s stock worth $9,034,000 after acquiring an additional 669 shares in the last quarter. 92.79% of the stock is currently owned by institutional investors.

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In related news, EVP Stuart A. Arbuckle sold 4,250 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $148.17, for a total transaction of $629,722.50. Following the transaction, the executive vice president now owns 46,202 shares of the company’s stock, valued at $6,845,750.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 7,073 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $143.05, for a total transaction of $1,011,792.65. Following the transaction, the director now directly owns 11,026 shares in the company, valued at approximately $1,577,269.30. The disclosure for this sale can be found here. Insiders have sold 220,094 shares of company stock worth $32,074,719 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Incorporated (VRTX) traded down $0.72 during trading hours on Friday, hitting $147.94. 1,516,300 shares of the stock were exchanged, compared to its average volume of 1,816,668. Vertex Pharmaceuticals Incorporated has a 12 month low of $71.46 and a 12 month high of $167.85. The company has a market capitalization of $37,300.00, a price-to-earnings ratio of 247.77, a price-to-earnings-growth ratio of 3.78 and a beta of 1.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The business had revenue of $578.20 million for the quarter, compared to analyst estimates of $522.07 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Vertex Pharmaceuticals’s revenue was up 39.7% compared to the same quarter last year. research analysts expect that Vertex Pharmaceuticals Incorporated will post 0.72 EPS for the current fiscal year.

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. Robert W. Baird reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. HC Wainwright reissued a “hold” rating and issued a $85.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, October 26th. Finally, Maxim Group reissued a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. Vertex Pharmaceuticals has an average rating of “Buy” and an average target price of $173.15.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

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

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