Key Points
- CEO Renee Gala sold 2,000 Jazz Pharmaceuticals shares for approximately $486,060 under a pre-arranged Rule 10b5-1 trading plan, reducing her holdings by 1.38%.
- Jazz reported quarterly revenue of $1.21 billion, up 15.5% year over year and above estimates, but EPS of $5.71 missed the $6.18 consensus forecast.
- Analysts maintain a consensus “Buy” rating with a $285.50 price target, while institutional investors own 89.14% of the company’s stock.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report) CEO Renee Gala sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $243.03, for a total value of $486,060.00. Following the completion of the transaction, the chief executive officer owned 143,394 shares of the company's stock, valued at approximately $34,849,043.82. The trade was a 1.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jazz Pharmaceuticals Stock Performance
JAZZ stock opened at $240.48 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.69. The firm has a market cap of $15.61 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.22 and a beta of 0.36. Jazz Pharmaceuticals PLC has a 12-month low of $123.88 and a 12-month high of $266.38. The stock's 50 day simple moving average is $249.32 and its 200 day simple moving average is $223.57.
Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.18 by ($0.47). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned ($8.25) earnings per share. As a group, equities research analysts predict that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current year.
Institutional Investors Weigh In On Jazz Pharmaceuticals
Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its position in shares of Jazz Pharmaceuticals by 24,585.6% during the second 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 during the last quarter. Capital World Investors lifted its position in Jazz Pharmaceuticals by 4.4% in the 4th quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company's stock valued at $453,322,000 after purchasing an additional 111,735 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Jazz Pharmaceuticals by 11.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company's stock valued at $198,159,000 after purchasing an additional 191,637 shares during the period. Franklin Resources Inc. boosted its stake in Jazz Pharmaceuticals by 164.0% during the 4th 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 during the period. Finally, Bank of New York Mellon Corp boosted its stake in Jazz Pharmaceuticals by 44.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company's stock valued at $317,485,000 after purchasing an additional 517,514 shares during the period. 89.14% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on JAZZ. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Jazz Pharmaceuticals from $287.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, August 26th. UBS Group reiterated a "buy" rating and set a $315.00 price objective on shares of Jazz Pharmaceuticals in a research note on Tuesday, August 4th. Needham & Company LLC raised their target price on shares of Jazz Pharmaceuticals from $292.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, August 26th. Sanford C. Bernstein reissued a "market perform" rating on shares of Jazz Pharmaceuticals in a report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. lifted their target price on Jazz Pharmaceuticals from $265.00 to $276.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $285.50.
View Our Latest Stock Analysis on Jazz Pharmaceuticals
Jazz Pharmaceuticals Company Profile
(
Get Free Report)
Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a global biopharmaceutical company focused on developing and commercializing medicines for disorders in neuroscience and oncology. The company concentrates on conditions with significant unmet medical needs, including sleep disorders, epilepsy, rare diseases and certain cancers.
Its neuroscience portfolio includes Xywav and Xyrem, oxybate-based treatments for narcolepsy, with Xywav also indicated for idiopathic hypersomnia in adults. Jazz also markets Epidiolex in the United States, known as Epidyolex in some international markets, a cannabidiol-based medicine for seizures associated with Lennox-Gastaut syndrome, Dravet syndrome and tuberous sclerosis complex.
In oncology, Jazz's products include Rylaze, an asparaginase therapy used as part of treatment for acute lymphoblastic leukemia and lymphoblastic lymphoma; Zepzelca, used for certain patients with metastatic small cell lung cancer; and Vyxeos, a chemotherapy formulation for certain cases of newly diagnosed therapy-related acute myeloid leukemia or AML with myelodysplasia-related changes.
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