Manning & Napier Group LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 300,594 shares of the pharmaceutical company’s stock after selling 32,214 shares during the quarter. Manning & Napier Group LLC’s holdings in Vertex Pharmaceuticals were worth $55,293,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Parallel Advisors LLC increased its holdings in Vertex Pharmaceuticals by 5.8% during the 4th quarter. Parallel Advisors LLC now owns 1,091 shares of the pharmaceutical company’s stock worth $180,000 after purchasing an additional 60 shares during the last quarter. Kovack Advisors Inc. increased its holdings in Vertex Pharmaceuticals by 4.2% during the 4th quarter. Kovack Advisors Inc. now owns 1,484 shares of the pharmaceutical company’s stock worth $246,000 after purchasing an additional 60 shares during the last quarter. Grandfield & Dodd LLC increased its holdings in Vertex Pharmaceuticals by 1.0% during the 4th quarter. Grandfield & Dodd LLC now owns 6,239 shares of the pharmaceutical company’s stock worth $1,034,000 after purchasing an additional 61 shares during the last quarter. ETRADE Capital Management LLC increased its holdings in Vertex Pharmaceuticals by 0.5% during the 4th quarter. ETRADE Capital Management LLC now owns 11,897 shares of the pharmaceutical company’s stock worth $1,972,000 after purchasing an additional 65 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Vertex Pharmaceuticals by 1.9% during the 4th quarter. Impax Asset Management Group plc now owns 3,467 shares of the pharmaceutical company’s stock worth $575,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

In related news, SVP Paul M. Silva sold 3,007 shares of the business’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $190.62, for a total transaction of $573,194.34. Following the completion of the transaction, the senior vice president now owns 17,376 shares in the company, valued at approximately $3,312,213.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Altshuler sold 5,624 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $187.00, for a total value of $1,051,688.00. Following the transaction, the executive vice president now owns 32,604 shares of the company’s stock, valued at approximately $6,096,948. The disclosure for this sale can be found here. Insiders have sold a total of 210,749 shares of company stock valued at $38,583,925 in the last 90 days. Insiders own 0.75% of the company’s stock.

Several equities research analysts have issued reports on VRTX shares. Cantor Fitzgerald restated a “buy” rating and set a $217.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, December 17th. Guggenheim started coverage on Vertex Pharmaceuticals in a report on Monday, December 17th. They set a “neutral” rating on the stock. Morgan Stanley decreased their target price on Vertex Pharmaceuticals from $211.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, December 19th. Zacks Investment Research lowered Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Finally, Raymond James lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $165.71 target price for the company. in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $204.44.

Shares of VRTX traded up $2.02 during mid-day trading on Wednesday, hitting $190.33. The stock had a trading volume of 55,190 shares, compared to its average volume of 1,448,867. The firm has a market cap of $48.14 billion, a price-to-earnings ratio of 67.30, a PEG ratio of 2.77 and a beta of 1.64. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $144.07 and a fifty-two week high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.06 by $0.24. The company had revenue of $870.11 million during the quarter, compared to analyst estimates of $818.29 million. Vertex Pharmaceuticals had a return on equity of 24.15% and a net margin of 68.81%. The business’s revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.04 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Manning & Napier Group LLC Has $55.29 Million Holdings in Vertex Pharmaceuticals Incorporated (VRTX)” was first published by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/manning-napier-group-llc-has-55-29-million-holdings-in-vertex-pharmaceuticals-incorporated-vrtx/2953431.html.

About Vertex Pharmaceuticals

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.

Read More: What type of investment options does a Roth IRA provide?

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

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

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.