Key Points
- Director Bruce Cozadd sold 6,000 Jazz Pharmaceuticals shares for approximately $1.38 million at an average price of $230.33, reducing his holdings by 1.71% under a pre-arranged Rule 10b5-1 plan.
- Jazz Pharmaceuticals reported quarterly revenue of $1.21 billion, up 15.5% year over year, but earnings per share of $5.71 fell short of the $6.18 analyst consensus.
- Analysts maintain a consensus “Buy” rating with an average price target of $291.15, while institutional investors own 89.14% of the company’s outstanding shares.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report) Director Bruce Cozadd sold 6,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $230.33, for a total value of $1,381,980.00. Following the completion of the sale, the director owned 345,875 shares of the company's stock, valued at $79,665,388.75. The trade was a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jazz Pharmaceuticals Stock Performance
Shares of Jazz Pharmaceuticals stock opened at $236.04 on Tuesday. Jazz Pharmaceuticals PLC has a 12 month low of $128.80 and a 12 month high of $266.38. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.69. The stock has a market cap of $15.32 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.21 and a beta of 0.37. The business has a fifty day simple moving average of $246.69 and a 200-day simple moving average of $230.09.
Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($8.25) earnings per share. On average, sell-side analysts anticipate that Jazz Pharmaceuticals PLC will post 21.61 EPS for the current fiscal year.
Institutional Trading of Jazz Pharmaceuticals
Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in shares of Jazz Pharmaceuticals by 22.4% during the 3rd quarter. Versant Capital Management Inc now owns 2,886 shares of the specialty pharmaceutical company's stock valued at $668,000 after acquiring an additional 529 shares during the last quarter. Parrish Capital LLC lifted its holdings in Jazz Pharmaceuticals by 11.1% in the 3rd quarter. Parrish Capital LLC now owns 3,536 shares of the specialty pharmaceutical company's stock worth $819,000 after purchasing an additional 354 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Jazz Pharmaceuticals by 9.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,527 shares of the specialty pharmaceutical company's stock worth $1,091,000 after purchasing an additional 389 shares during the last quarter. Tidal Investments LLC boosted its position in Jazz Pharmaceuticals by 8.3% during the second quarter. Tidal Investments LLC now owns 21,028 shares of the specialty pharmaceutical company's stock worth $5,067,000 after purchasing an additional 1,615 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in Jazz Pharmaceuticals during the second quarter worth approximately $386,000. Institutional investors and hedge funds own 89.14% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on JAZZ. Sanford C. Bernstein reiterated a "market perform" rating on shares of Jazz Pharmaceuticals in a report on Tuesday, June 9th. Piper Sandler raised their price target on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Citigroup initiated coverage on shares of Jazz Pharmaceuticals in a research report on Wednesday, September 30th. They set a "buy" rating and a $325.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Jazz Pharmaceuticals from $287.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, August 26th. Finally, Needham & Company LLC increased their target price on shares of Jazz Pharmaceuticals from $292.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Jazz Pharmaceuticals currently has a consensus rating of "Buy" and an average target price of $291.15.
Check Out Our Latest Stock Report on Jazz Pharmaceuticals
About Jazz Pharmaceuticals
(
Get Free Report)
Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.
Jazz's neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.
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