Callan Family Office LLC Buys 3,067 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Callan Family Office LLC increased its stake in Vertex Pharmaceuticals by 125.2%, acquiring an additional 3,067 shares during the first quarter, totaling 5,517 shares valued at approximately $2.675 million.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, exceeding analysts' expectations, and generated $2.94 billion in revenue, reflecting an 11.3% year-over-year growth.
• A significant portion, 90.96%, of Vertex Pharmaceuticals' stock is owned by institutional investors and hedge funds, indicating strong market confidence in the company's potential.

Callan Family Office LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 125.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,517 shares of the pharmaceutical company's stock after acquiring an additional 3,067 shares during the quarter. Callan Family Office LLC's holdings in Vertex Pharmaceuticals were worth $2,675,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $31,000. SJS Investment Consulting Inc. grew its stake in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after acquiring an additional 30 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter worth $46,000. Stone House Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter worth $48,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $40,000. Institutional investors own 90.96% of the company's stock.

Insider Activity

In other news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $8.15 during trading on Wednesday, hitting $395.92. 1,913,607 shares of the company were exchanged, compared to its average volume of 2,284,947. The firm has a market capitalization of $101.51 billion, a P/E ratio of 28.30 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The firm's fifty day moving average price is $447.18 and its 200 day moving average price is $464.48.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($12.83) EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on VRTX shares. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. UBS Group set a $553.00 price target on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research note on Wednesday, August 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $497.10.

Vertex Pharmaceuticals 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.