Bruce Cozadd Sells 6,000 Shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) Director Bruce Cozadd sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $250.13, for a total transaction of $1,500,780.00. Following the transaction, the director directly owned 351,875 shares of the company’s stock, valued at $88,014,493.75. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ JAZZ opened at $247.57 on Friday. The company has a 50 day simple moving average of $248.81 and a two-hundred day simple moving average of $220.96. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.22 and a beta of 0.36. 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 PLC has a 12 month low of $123.88 and a 12 month high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing analysts’ consensus estimates of $6.18 by ($0.47). The business had revenue of $1.21 billion during 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%.The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($8.25) EPS. As a group, analysts predict that Jazz Pharmaceuticals PLC will post 21.5 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Jazz Pharmaceuticals from $301.00 to $310.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Barclays raised their target price on Jazz Pharmaceuticals from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. Bank of America boosted their price target on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, Canaccord Genuity Group set a $300.00 price objective on Jazz Pharmaceuticals in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $285.44.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System increased its stake in shares of 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 valued at $3,786,635,000 after purchasing 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 worth approximately $127,344,000. Franklin Resources Inc. boosted its position 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 worth $309,215,000 after purchasing an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Jazz Pharmaceuticals by 160.2% in 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 during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in 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. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Company Profile

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.