VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Jazz Pharmaceuticals PLC $JAZZ

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 18,670 shares of the specialty pharmaceutical company’s stock, valued at approximately $4,499,000.

Several other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in 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 buying an additional 15,650,479 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Jazz Pharmaceuticals during the second quarter worth $47,000. Wedmont Private Capital boosted its position in shares of Jazz Pharmaceuticals by 7.4% in the second quarter. Wedmont Private Capital now owns 2,474 shares of the specialty pharmaceutical company’s stock valued at $603,000 after acquiring an additional 171 shares during the period. HB Wealth Management LLC boosted its position in shares of Jazz Pharmaceuticals by 27.9% in the second quarter. HB Wealth Management LLC now owns 3,722 shares of the specialty pharmaceutical company’s stock valued at $897,000 after acquiring an additional 812 shares during the period. Finally, Angeles Wealth Management LLC bought a new stake in shares of Jazz Pharmaceuticals in the second quarter valued at about $1,221,000. 89.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JAZZ has been the topic of a number of recent research reports. Royal Bank Of Canada set a $299.00 price target on shares of Jazz Pharmaceuticals in a research report on Friday, August 28th. Wells Fargo & Company increased their target price on shares of Jazz Pharmaceuticals from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. TD Cowen raised their target price on shares of Jazz Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Morgan Stanley lifted their price target on shares of Jazz Pharmaceuticals from $283.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, August 26th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Jazz Pharmaceuticals has an average rating of “Buy” and a consensus price target of $285.44.

Jazz Pharmaceuticals Stock Up 0.5%

JAZZ stock opened at $241.31 on Thursday. The company has a market cap of $15.67 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 0.22 and a beta of 0.36. The business has a 50-day simple moving average of $249.38 and a 200 day simple moving average of $223.09. Jazz Pharmaceuticals PLC has a 52 week low of $123.88 and a 52 week 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.

Jazz Pharmaceuticals (NASDAQ:JAZZ) 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 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 in the previous year, the company earned ($8.25) earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert Iannone sold 76,921 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $249.70, for a total value of $19,207,173.70. Following the transaction, the executive vice president directly owned 65,686 shares of the company’s stock, valued at $16,401,794.20. This trade represents a 53.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Smith sold 1,157 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the transaction, the director owned 9,680 shares of the company’s stock, valued at approximately $2,231,724. This represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 96,078 shares of company stock worth $23,935,400. Corporate insiders own 4.10% of the company’s stock.

Jazz Pharmaceuticals Company Profile

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.