Geode Capital Management LLC Sells 389,420 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Geode Capital Management LLC lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,935,888 shares of the pharmaceutical company’s stock after selling 389,420 shares during the period. Geode Capital Management LLC owned approximately 2.30% of Vertex Pharmaceuticals worth $2,752,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of VRTX. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. Dunhill Financial LLC increased its holdings in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. GHP Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter worth $29,000. Finally, Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the second quarter valued at $31,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $473.98 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock has a market cap of $122.06 billion, a price-to-earnings ratio of -238.18 and a beta of 0.36. The business’s fifty day moving average is $473.01 and its 200 day moving average is $475.84. Vertex Pharmaceuticals Incorporated has a twelve month low of $351.44 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the business earned $3.67 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VRTX shares. JPMorgan Chase & Co. dropped their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Citigroup started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 target price for the company. Royal Bank of Canada raised their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer cut their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.20.

Vertex Pharmaceuticals Company Profile

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.