Envestnet Asset Management Inc. raised its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 591.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,171 shares of the specialty pharmaceutical company’s stock after purchasing an additional 4,423 shares during the period. Envestnet Asset Management Inc.’s holdings in Jazz Pharmaceuticals were worth $891,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Tiverton Asset Management LLC purchased a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth about $198,000. Moloney Securities Asset Management LLC purchased a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth about $204,000. Financial Gravity Wealth Inc. purchased a new position in shares of Jazz Pharmaceuticals in the 1st quarter worth about $192,000. FDx Advisors Inc. acquired a new stake in shares of Jazz Pharmaceuticals in the second quarter valued at about $244,000. Finally, Sawtooth Solutions LLC acquired a new stake in shares of Jazz Pharmaceuticals in the second quarter valued at about $270,000. 92.52% of the stock is currently owned by institutional investors.
In other Jazz Pharmaceuticals news, Director Rick E. Winningham sold 16,639 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $176.18, for a total value of $2,931,459.02. Following the completion of the sale, the director now owns 15,594 shares of the company’s stock, valued at $2,747,350.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bruce C. Cozadd sold 1,300 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $167.99, for a total value of $218,387.00. Following the transaction, the chief executive officer now directly owns 279,915 shares of the company’s stock, valued at approximately $47,022,920.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,778 shares of company stock valued at $6,011,022. Insiders own 3.90% of the company’s stock.
A number of research firms have recently issued reports on JAZZ. BidaskClub upgraded Jazz Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, September 28th. Leerink Swann lifted their target price on Jazz Pharmaceuticals from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, August 17th. Wells Fargo & Co reissued a “buy” rating and issued a $195.00 price target (up previously from $182.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, August 15th. HC Wainwright reissued a “hold” rating and issued a $167.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday, August 9th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $207.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $192.11.
Shares of NASDAQ JAZZ traded up $3.44 during mid-day trading on Friday, reaching $158.82. The company had a trading volume of 768,222 shares, compared to its average volume of 481,001. Jazz Pharmaceuticals PLC has a 1-year low of $128.58 and a 1-year high of $184.00. The company has a quick ratio of 3.62, a current ratio of 3.76 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.92 and a beta of 1.04.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Tuesday, August 7th. The specialty pharmaceutical company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.26. Jazz Pharmaceuticals had a return on equity of 25.47% and a net margin of 24.20%. The business had revenue of $500.48 million for the quarter, compared to the consensus estimate of $469.85 million. As a group, analysts anticipate that Jazz Pharmaceuticals PLC will post 11.7 earnings per share for the current year.
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.
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