Vertex Pharmaceuticals Incorporated (VRTX) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 349,122 shares of the pharmaceutical company’s stock after selling 1,913 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Vertex Pharmaceuticals were worth $67,290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in Vertex Pharmaceuticals by 42.1% in the second quarter. Renaissance Technologies LLC now owns 4,050,617 shares of the pharmaceutical company’s stock worth $688,443,000 after buying an additional 1,199,700 shares during the last quarter. American Century Companies Inc. increased its holdings in Vertex Pharmaceuticals by 357.5% in the second quarter. American Century Companies Inc. now owns 1,125,428 shares of the pharmaceutical company’s stock worth $191,278,000 after buying an additional 879,411 shares during the last quarter. Standard Life Aberdeen plc increased its holdings in Vertex Pharmaceuticals by 238.9% in the second quarter. Standard Life Aberdeen plc now owns 1,144,913 shares of the pharmaceutical company’s stock worth $194,646,000 after buying an additional 807,086 shares during the last quarter. PointState Capital LP increased its holdings in Vertex Pharmaceuticals by 160.9% in the second quarter. PointState Capital LP now owns 779,200 shares of the pharmaceutical company’s stock worth $132,433,000 after buying an additional 480,523 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in Vertex Pharmaceuticals by 753.5% in the second quarter. OppenheimerFunds Inc. now owns 523,315 shares of the pharmaceutical company’s stock worth $88,943,000 after buying an additional 462,000 shares during the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

In other news, Director Sangeeta N. Bhatia sold 6,818 shares of the stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $192.13, for a total value of $1,309,942.34. Following the completion of the sale, the director now directly owns 6,997 shares of the company’s stock, valued at $1,344,333.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Graney sold 1,076 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $193.24, for a total value of $207,926.24. The disclosure for this sale can be found here. Insiders sold 21,144 shares of company stock valued at $4,001,915 over the last three months. 1.80% of the stock is owned by company insiders.

Shares of VRTX stock opened at $173.29 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $136.50 and a 12 month high of $194.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.59 and a current ratio of 3.71. The company has a market cap of $43.31 billion, a price-to-earnings ratio of 75.65, a P/E/G ratio of 1.68 and a beta of 1.61.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.07. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. The company had revenue of $784.54 million during the quarter, compared to analysts’ expectations of $782.95 million. During the same period in the prior year, the business earned $0.53 earnings per share. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current fiscal year.

A number of equities analysts recently commented on the company. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Piper Jaffray Companies dropped their price objective on Vertex Pharmaceuticals to $217.00 and set an “overweight” rating on the stock in a report on Friday, October 26th. BMO Capital Markets dropped their price objective on Vertex Pharmaceuticals from $204.00 to $192.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. HC Wainwright upgraded Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a report on Friday, October 26th. Finally, Raymond James set a $201.00 price objective on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, October 25th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $202.14.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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

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