Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report) EVP Robert Iannone sold 76,921 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $249.70, for a total value of $19,207,173.70. Following the sale, the executive vice president directly owned 65,686 shares in the company, valued at approximately $16,401,794.20. This trade represents a 53.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jazz Pharmaceuticals Trading Up 2.5%
Shares of NASDAQ:JAZZ opened at $250.68 on Tuesday. Jazz Pharmaceuticals PLC has a 12-month low of $123.88 and a 12-month high of $266.38. The company has a market capitalization of $16.27 billion, a PE ratio of 17.29, a PEG ratio of 0.22 and a beta of 0.32. The business has a 50 day moving average of $247.80 and a two-hundred day moving average of $219.29. The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.69.
Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing analysts' consensus estimates of $6.18 by ($0.47). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.Jazz Pharmaceuticals's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($8.25) EPS. As a group, analysts forecast that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in Jazz Pharmaceuticals by 24,585.6% in the 2nd quarter. California State Teachers Retirement System now owns 15,714,136 shares of the specialty pharmaceutical company's stock worth $3,786,635,000 after acquiring an additional 15,650,479 shares in the last quarter. Vestal Point Capital LP purchased a new position in Jazz Pharmaceuticals during the second quarter valued at $127,344,000. Franklin Resources Inc. lifted its holdings in Jazz Pharmaceuticals by 164.0% during the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock valued at $309,215,000 after purchasing an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Jazz Pharmaceuticals by 160.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company's stock valued at $197,516,000 after purchasing an additional 715,361 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Jazz Pharmaceuticals by 258.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company's stock valued at $93,160,000 after purchasing an additional 395,000 shares during the period. Hedge funds and other institutional investors own 89.14% of the company's stock.
Wall Street Analyst Weigh In
JAZZ has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of Jazz Pharmaceuticals from $252.00 to $280.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. TD Cowen upped their price objective on shares of Jazz Pharmaceuticals from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Morgan Stanley increased their target price on shares of Jazz Pharmaceuticals from $283.00 to $322.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 26th. Canaccord Genuity Group set a $300.00 target price on Jazz Pharmaceuticals in a research report on Wednesday, August 26th. Finally, UBS Group restated a "buy" rating and set a $315.00 target price on shares of Jazz Pharmaceuticals in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $285.44.
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About Jazz Pharmaceuticals
(
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Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company's research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz's product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.
Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.
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