Chevy Chase Trust Holdings Inc. reduced its position in shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) by 1.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 234,537 shares of the pharmaceutical company’s stock after selling 4,450 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of Vertex Pharmaceuticals worth $20,454,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of Vertex Pharmaceuticals by 46.9% in the second quarter. FMR LLC now owns 22,227,104 shares of the pharmaceutical company’s stock worth $1,911,975,000 after buying an additional 7,092,351 shares during the period. Capital World Investors boosted its stake in shares of Vertex Pharmaceuticals by 0.4% in the second quarter. Capital World Investors now owns 21,692,797 shares of the pharmaceutical company’s stock worth $1,866,014,000 after buying an additional 94,635 shares during the period. Vanguard Group Inc. boosted its stake in shares of Vertex Pharmaceuticals by 2.2% in the second quarter. Vanguard Group Inc. now owns 15,265,175 shares of the pharmaceutical company’s stock worth $1,313,110,000 after buying an additional 329,337 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Vertex Pharmaceuticals by 4.2% in the second quarter. JPMorgan Chase & Co. now owns 12,173,439 shares of the pharmaceutical company’s stock worth $1,047,161,000 after buying an additional 485,112 shares during the period. Finally, State Street Corp boosted its stake in shares of Vertex Pharmaceuticals by 0.4% in the second quarter. State Street Corp now owns 9,825,708 shares of the pharmaceutical company’s stock worth $845,214,000 after buying an additional 35,700 shares during the period. 96.20% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) traded down 1.93% on Friday, reaching $89.44. The company had a trading volume of 1,265,388 shares. The stock’s market capitalization is $22184.07 billion. Vertex Pharmaceuticals Inc. has a 52-week low of $73.31 and a 52-week high of $134.71. The company has a 50 day moving average price of $83.68 and a 200 day moving average price of $89.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.02. Vertex Pharmaceuticals had a negative net margin of 13.45% and a negative return on equity of 5.31%. The firm had revenue of $413.78 million for the quarter, compared to analyst estimates of $423.53 million. During the same period last year, the firm earned ($0.13) earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex Pharmaceuticals Inc. will post $0.78 earnings per share for the current year.

VRTX has been the subject of a number of research analyst reports. Jefferies Group reissued a “buy” rating and issued a $107.00 target price (up from $102.00) on shares of Vertex Pharmaceuticals in a research report on Sunday, July 31st. Morgan Stanley reduced their price objective on Vertex Pharmaceuticals from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. JMP Securities reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 16th. Leerink Swann set a $112.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, September 17th. Finally, RBC Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 12th. Fifteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $108.13.

In related news, Director Joshua S. Boger sold 7,500 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $100.46, for a total value of $753,450.00. Following the completion of the transaction, the director now owns 274,725 shares of the company’s stock, valued at $27,598,873.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua S. Boger sold 1,100 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $100.79, for a total transaction of $110,869.00. Following the completion of the transaction, the director now directly owns 268,225 shares of the company’s stock, valued at approximately $27,034,397.75. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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

5 Day Chart for NASDAQ:VRTX

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