Public Employees Retirement System of Ohio Buys New Shares in Jazz Pharmaceuticals PLC $JAZZ

Public Employees Retirement System of Ohio purchased a new stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,067 shares of the specialty pharmaceutical company’s stock, valued at approximately $10,860,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of JAZZ. Vestal Point Capital LP bought a new position in Jazz Pharmaceuticals in the second quarter worth $127,344,000. Franklin Resources Inc. boosted its stake 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 buying an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Jazz Pharmaceuticals by 160.2% in the 4th 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 buying an additional 715,361 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Jazz Pharmaceuticals by 258.2% in 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 buying an additional 395,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Jazz Pharmaceuticals by 592.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company’s stock valued at $57,523,000 after buying an additional 373,383 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Up 2.5%

Shares of NASDAQ:JAZZ opened at $250.68 on Tuesday. Jazz Pharmaceuticals PLC has a 52 week low of $123.88 and a 52 week high of $266.38. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78. The company’s fifty day moving average is $247.80 and its 200-day moving average is $219.29. The company has a market capitalization of $16.27 billion, a PE ratio of 17.29, a P/E/G ratio of 0.22 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) 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 firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned ($8.25) EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts predict that Jazz Pharmaceuticals PLC will post 21.5 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the completion of the transaction, the executive vice president owned 51,549 shares in the company, valued at approximately $11,950,604.67. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce C. Cozadd sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $252.98, for a total value of $1,517,880.00. Following the completion of the transaction, the director directly owned 360,682 shares in the company, valued at $91,245,332.36. The trade was a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 91,278 shares of company stock valued at $22,712,816 over the last three months. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JAZZ. Stifel Nicolaus set a $275.00 target price on shares of Jazz Pharmaceuticals in a research report on Tuesday, August 4th. Raymond James Financial reissued an “outperform” rating and issued a $239.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. 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 research note on Tuesday, August 4th. Needham & Company LLC raised their price target on shares of Jazz Pharmaceuticals from $292.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Finally, Morgan Stanley lifted their price objective on Jazz Pharmaceuticals from $283.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. One 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 company’s stock. According to data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Buy” and an average price target 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.