Globeflex Capital L P bought a new stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 10,645 shares of the specialty pharmaceutical company’s stock, valued at approximately $2,565,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of Jazz Pharmaceuticals by 96.5% in the 1st quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company’s stock worth $8,394,000 after purchasing an additional 33,210 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Jazz Pharmaceuticals by 147.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company’s stock valued at $43,652,000 after purchasing an additional 209,667 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Jazz Pharmaceuticals by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company’s stock worth $24,479,000 after buying an additional 7,954 shares during the last quarter. Focus Partners Wealth grew its stake in Jazz Pharmaceuticals by 3.4% during the 1st quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company’s stock worth $574,000 after buying an additional 154 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Jazz Pharmaceuticals by 57.6% in the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after buying an additional 137 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, EVP Neena M. Patil sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total transaction of $278,196.00. Following the transaction, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the director directly owned 360,682 shares in the company, valued at approximately $91,245,332.36. The trade was a 1.64% decrease in their position. 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 three months, insiders have sold 14,357 shares of company stock worth $3,505,642. 4.10% of the stock is owned by corporate insiders.
Jazz Pharmaceuticals Stock Performance
Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) last issued 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 company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. Jazz Pharmaceuticals’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($8.25) earnings per share. Equities analysts predict that Jazz Pharmaceuticals PLC will post 21.66 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have issued reports on JAZZ. Weiss Ratings upgraded Jazz Pharmaceuticals from a “hold (c-)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $287.00 price target on shares of Jazz Pharmaceuticals in a research report on Tuesday, August 4th. Piper Sandler lifted their price objective on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on shares of Jazz Pharmaceuticals from $265.00 to $276.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Truist Financial set a $264.00 target price on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Buy” and an average price target of $272.89.
Jazz Pharmaceuticals 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.
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