Jazz Pharmaceuticals (NASDAQ:JAZZ) Director Bruce Cozadd Sells 6,000 Shares of 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 shares were sold at an average price of $250.13, for a total transaction of $1,500,780.00. Following the completion of the transaction, the director owned 351,875 shares in the company, valued at $88,014,493.75. The trade was a 1.68% decrease in their position. The transaction was disclosed in a document filed 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 Trading Up 0.8%

JAZZ stock traded up $1.86 during midday trading on Wednesday, reaching $245.57. 1,155,945 shares of the company’s stock traded hands, compared to its average volume of 969,018. The business has a 50-day moving average price of $248.07 and a two-hundred day moving average price of $219.83. Jazz Pharmaceuticals PLC has a fifty-two week low of $123.88 and a fifty-two week high of $266.38. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58. The company has a market capitalization of $15.94 billion, a P/E ratio of 16.94, a PEG ratio of 0.23 and a beta of 0.36.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results 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). Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted ($8.25) earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts forecast that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its stake in shares of Jazz Pharmaceuticals by 24,585.6% during 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 buying an additional 15,650,479 shares during the last quarter. Vestal Point Capital LP bought a new stake in shares of Jazz Pharmaceuticals in the second quarter worth $127,344,000. Franklin Resources Inc. raised its holdings in Jazz Pharmaceuticals by 164.0% in 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 acquiring an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp raised 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 acquiring an additional 715,361 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Jazz Pharmaceuticals by 258.2% during the 4th 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 acquiring an additional 395,000 shares during the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JAZZ has been the subject of several analyst reports. Barclays upped their target price on Jazz Pharmaceuticals from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. TD Cowen boosted their price target on Jazz Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Stifel Nicolaus set a $275.00 price target on Jazz Pharmaceuticals in a report on Tuesday, August 4th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. Finally, Needham & Company LLC lifted their price objective on shares of Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a “buy” rating in a research note 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 given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $285.44.

About Jazz Pharmaceuticals

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.