Bank of Montreal Can cut its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 3.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 711,247 shares of the specialty pharmaceutical company’s stock after selling 26,353 shares during the period. Bank of Montreal Can owned about 1.28% of Jazz Pharmaceuticals worth $75,008,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board grew its stake in shares of Jazz Pharmaceuticals by 6.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 31,921 shares of the specialty pharmaceutical company’s stock valued at $3,522,000 after buying an additional 1,830 shares in the last quarter. StoneX Group Inc. bought a new position in Jazz Pharmaceuticals during the second quarter worth about $205,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Jazz Pharmaceuticals by 45.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,995 shares of the specialty pharmaceutical company’s stock worth $993,000 after purchasing an additional 2,805 shares during the period. Prudential Financial Inc. raised its holdings in Jazz Pharmaceuticals by 18.9% in the 2nd quarter. Prudential Financial Inc. now owns 46,502 shares of the specialty pharmaceutical company’s stock valued at $5,131,000 after acquiring an additional 7,388 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Jazz Pharmaceuticals by 49.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 75,414 shares of the specialty pharmaceutical company’s stock worth $8,321,000 after buying an additional 24,800 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.
In related news, CEO Bruce C. Cozadd sold 3,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $130.00, for a total value of $390,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 3,438 shares of company stock valued at $444,579. 4.60% of the stock is owned by insiders.
Shares of Jazz Pharmaceuticals stock traded down $1.13 during trading on Tuesday, hitting $133.26. 7,226 shares of the stock traded hands, compared to its average volume of 592,958. The stock has a market cap of $7.42 billion, a P/E ratio of 58.18, a PEG ratio of 1.36 and a beta of 1.19. The company has a fifty day moving average price of $118.04 and a two-hundred day moving average price of $113.86. Jazz Pharmaceuticals PLC has a twelve month low of $86.88 and a twelve month high of $154.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.39 and a current ratio of 5.62.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Tuesday, August 4th. The specialty pharmaceutical company reported $3.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.60. The firm had revenue of $562.44 million during the quarter, compared to analysts’ expectations of $503.19 million. Jazz Pharmaceuticals had a net margin of 6.01% and a return on equity of 20.47%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.05 earnings per share. On average, equities research analysts expect that Jazz Pharmaceuticals PLC will post 11.08 EPS for the current fiscal year.
Several brokerages recently weighed in on JAZZ. Wells Fargo & Co upped their price objective on Jazz Pharmaceuticals from $150.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Bank of America upped their price target on Jazz Pharmaceuticals from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Piper Sandler dropped their target price on shares of Jazz Pharmaceuticals from $127.00 to $113.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Morgan Stanley upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $177.00 price target on the stock in a report on Thursday, August 6th. They noted that the move was a valuation call. Finally, Oppenheimer assumed coverage on shares of Jazz Pharmaceuticals in a research report on Thursday, July 30th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $162.59.
Jazz Pharmaceuticals Company Profile
Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet 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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