California State Teachers Retirement System Grows Position in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• California State Teachers Retirement System increased its Jazz Pharmaceuticals stake by 22% in the first quarter to 63,657 shares valued at approximately $12 million. Institutional investors collectively own 89.14% of the company.
• Analysts remain broadly bullish, with one Strong Buy, 16 Buy and three Hold ratings. The consensus price target is $259.06, while several firms recently raised their targets, including Bank of America to $307.
• Jazz Pharmaceuticals reported quarterly revenue of $1.21 billion, up 15.5% year over year and above estimates, but adjusted EPS of $5.71 missed the $6.18 consensus. The stock opened at $251.58, near its 52-week high of $261.30.

California State Teachers Retirement System raised its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 22.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,657 shares of the specialty pharmaceutical company's stock after acquiring an additional 11,486 shares during the quarter. California State Teachers Retirement System owned 0.10% of Jazz Pharmaceuticals worth $12,034,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in JAZZ. Vestal Point Capital LP acquired a new stake in shares of Jazz Pharmaceuticals in the second quarter valued at about $127,344,000. Franklin Resources Inc. grew its position in Jazz Pharmaceuticals by 164.0% during the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock worth $309,215,000 after buying an additional 1,129,995 shares during the period. Bank of New York Mellon Corp grew its position in Jazz Pharmaceuticals by 160.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company's stock worth $197,516,000 after buying an additional 715,361 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Jazz Pharmaceuticals by 258.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company's stock valued at $93,160,000 after buying an additional 395,000 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in Jazz Pharmaceuticals by 592.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company's stock valued at $57,523,000 after buying an additional 373,383 shares in the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Neena M. Patil sold 1,200 shares of the business's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total value of $278,196.00. Following the completion of the transaction, the executive vice president directly owned 51,549 shares of the company's stock, valued at $11,950,604.67. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce C. Cozadd sold 6,000 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.47, for a total value of $1,442,820.00. Following the completion of the sale, the director owned 366,682 shares in the company, valued at $88,176,020.54. This represents a 1.61% 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. Over the last 90 days, insiders sold 13,098 shares of company stock valued at $3,131,906. Company insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Jazz Pharmaceuticals from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Barclays raised their price objective on Jazz Pharmaceuticals from $253.00 to $260.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Bank of America lifted their price objective on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Robert W. Baird set a $252.00 target price on Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Needham & Company LLC upped their target price on Jazz Pharmaceuticals from $255.00 to $282.00 and gave the company a "buy" rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Jazz Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $259.06.

Jazz Pharmaceuticals Trading Down 0.5%

Shares of JAZZ opened at $251.58 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The firm has a 50 day simple moving average of $239.50 and a 200-day simple moving average of $207.30. Jazz Pharmaceuticals PLC has a 1-year low of $105.00 and a 1-year high of $261.30. The stock has a market cap of $15.80 billion, a price-to-earnings ratio of -12,572.71, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32.

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 (EPS) for the quarter, missing the consensus estimate of $6.18 by ($0.47). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($8.25) earnings per share. Equities analysts forecast that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current fiscal 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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