Angeles Wealth Management LLC Makes New $1.22 Million Investment in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Angeles Wealth Management acquired 5,068 Jazz Pharmaceuticals shares worth approximately $1.22 million in the second quarter. Institutional investors and hedge funds collectively own 89.14% of the company.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $285.44; several firms recently raised their targets to between $300 and $322.
• Jazz Pharmaceuticals reported quarterly revenue of $1.21 billion, up 15.5% year over year, though earnings of $5.71 per share fell short of the $6.18 consensus estimate. Company insiders sold approximately $24.2 million of stock during the last quarter.

Angeles Wealth Management LLC bought a new stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,068 shares of the specialty pharmaceutical company's stock, valued at approximately $1,221,000.

A number of other hedge funds have also recently made changes to their positions in JAZZ. Allianz Asset Management GmbH lifted its holdings in Jazz Pharmaceuticals by 68.2% during the 4th quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company's stock worth $101,801,000 after buying an additional 242,892 shares during the period. Castleark Management LLC bought a new stake in shares of Jazz Pharmaceuticals in the 1st quarter valued at about $9,214,000. SEB Asset Management AB acquired a new stake in shares of Jazz Pharmaceuticals in the first quarter valued at about $8,765,000. Swedbank AB increased its stake in shares of Jazz Pharmaceuticals by 2.7% in the fourth quarter. Swedbank AB now owns 1,102,974 shares of the specialty pharmaceutical company's stock valued at $187,506,000 after buying an additional 28,882 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Jazz Pharmaceuticals by 10.9% during the first quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company's stock worth $191,848,000 after acquiring an additional 99,656 shares during the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Jazz Pharmaceuticals

In related news, EVP Robert Iannone sold 76,921 shares of the firm's stock in a transaction dated 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 owned 65,686 shares of the company's stock, valued at approximately $16,401,794.20. This trade represents a 53.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce Cozadd sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were 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 owned 360,682 shares in the company, valued at $91,245,332.36. This represents 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. Insiders sold a total of 97,278 shares of company stock worth $24,213,596 in the last quarter. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

JAZZ has been the topic of a number of recent analyst reports. Canaccord Genuity Group set a $300.00 price objective on Jazz Pharmaceuticals in a research note on Wednesday, August 26th. Morgan Stanley raised their price target on shares of Jazz Pharmaceuticals from $283.00 to $322.00 and gave the stock an "overweight" rating in a report on Wednesday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of Jazz Pharmaceuticals from $265.00 to $276.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Bank of America upped their price objective on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Jazz Pharmaceuticals from $287.00 to $300.00 and gave the stock a "buy" rating in a research 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $285.44.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock opened at $246.81 on Friday. The stock has a market capitalization of $16.02 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.22 and a beta of 0.36. Jazz Pharmaceuticals PLC has a 52-week low of $123.88 and a 52-week high of $266.38. The stock's 50 day moving average price is $249.14 and its two-hundred day moving average price is $221.14. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned ($8.25) EPS. The business's revenue was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Jazz Pharmaceuticals PLC will post 21.5 earnings per share for the current year.

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.

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