Loomis Sayles & Co. L P Trims Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Loomis Sayles & Co. L P lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,068,214 shares of the pharmaceutical company’s stock after selling 73,957 shares during the period. Vertex Pharmaceuticals accounts for about 1.9% of Loomis Sayles & Co. L P’s holdings, making the stock its 13th biggest position. Loomis Sayles & Co. L P’s holdings in Vertex Pharmaceuticals were worth $1,426,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VRTX. Edgewood Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after purchasing an additional 1,526,983 shares during the period. Jennison Associates LLC increased its stake in Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after acquiring an additional 851,054 shares during the last quarter. Swedbank AB purchased a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $277,317,000. AMF Tjanstepension AB bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $257,655,000. Finally, International Assets Investment Management LLC increased its position in shares of Vertex Pharmaceuticals by 74,015.5% in the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after purchasing an additional 324,188 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,445 shares of company stock valued at $2,218,394. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.1 %

Shares of VRTX stock opened at $450.97 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88. The firm’s 50 day moving average is $474.11 and its 200 day moving average is $473.74.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Oppenheimer reduced their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Bank of America dropped their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $504.38.

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.