State Street Corp Has $5.24 Billion Holdings in Vertex Pharmaceuticals Incorporated $VRTX

State Street Corp decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,775,227 shares of the pharmaceutical company’s stock after selling 13,430 shares during the quarter. State Street Corp owned 4.59% of Vertex Pharmaceuticals worth $5,242,331,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 2.1% during the second quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock valued at $10,673,126,000 after purchasing an additional 482,616 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Vertex Pharmaceuticals by 21.5% during the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after buying an additional 1,089,063 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 5,928,747 shares of the pharmaceutical company’s stock worth $2,627,135,000 after buying an additional 166,987 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Vertex Pharmaceuticals by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock worth $1,916,742,000 after buying an additional 33,492 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Vertex Pharmaceuticals by 1.7% in the second quarter. Loomis Sayles & Co. L P now owns 3,813,378 shares of the pharmaceutical company’s stock valued at $1,697,716,000 after buying an additional 65,047 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Down 3.0%

Shares of VRTX stock opened at $442.04 on Tuesday. The firm has a 50 day moving average of $423.07 and a 200-day moving average of $425.36. The company has a market cap of $112.15 billion, a price-to-earnings ratio of 31.17 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the firm posted $4.38 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on VRTX shares. Scotiabank assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 target price on the stock. Evercore ISI lowered their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Finally, UBS Group dropped their price target on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $495.53.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $17,202,600. The trade was a 27.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 151,073 shares of company stock valued at $67,326,816. 0.20% of the stock is currently owned by corporate insiders.

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.