Advisors Asset Management Inc. Has $11.17 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Advisors Asset Management Inc. reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,085 shares of the pharmaceutical company’s stock after selling 2,659 shares during the quarter. Advisors Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $11,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Vertex Pharmaceuticals by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock valued at $10,673,126,000 after buying an additional 482,616 shares during the last quarter. Jennison Associates LLC increased its position in Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after purchasing an additional 1,089,063 shares during the period. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 166,987 shares during the last quarter. Alliancebernstein L.P. lifted its position in Vertex Pharmaceuticals by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock valued at $1,916,742,000 after purchasing an additional 33,492 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Vertex Pharmaceuticals by 72.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock valued at $1,414,331,000 after purchasing an additional 1,226,527 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the completion of the transaction, the chairman directly owned 24,026 shares of the company’s stock, valued at approximately $10,588,738.72. This represents a 69.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.6%

NASDAQ VRTX opened at $424.00 on Tuesday. The firm’s 50 day moving average is $412.01 and its 200-day moving average is $424.96. The company has a market capitalization of $107.58 billion, a PE ratio of 30.31 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm earned $4.38 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on VRTX shares. Canaccord Genuity Group cut their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. UBS Group dropped their target price on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Royal Bank Of Canada cut their price target on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Evercore ISI decreased their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research note on Thursday, September 11th. Finally, Barclays upped their price objective on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $491.95.

About Vertex Pharmaceuticals

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.