Canada Pension Plan Investment Board Sells 12,400 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Jazz Pharmaceuticals by 6.6%, selling 12,400 shares in the first quarter, bringing its total ownership to approximately 0.29% of the company, valued at about $21.9 million.
• CEO Bruce C. Cozadd sold 1,000 shares at an average price of $107.63, which decreased his ownership by 0.23% to roughly 436,973 shares.
• Jazz Pharmaceuticals reported quarterly earnings of ($8.25) EPS, missing expectations, while the company's stock has seen adjustments in target prices from various analysts, with a consensus target price of $178.67.

Canada Pension Plan Investment Board decreased its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,600 shares of the specialty pharmaceutical company's stock after selling 12,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.29% of Jazz Pharmaceuticals worth $21,925,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Jazz Pharmaceuticals by 9.4% in the 1st quarter. Versant Capital Management Inc now owns 1,058 shares of the specialty pharmaceutical company's stock valued at $131,000 after purchasing an additional 91 shares during the period. Kendall Capital Management raised its stake in Jazz Pharmaceuticals by 1.2% during the 1st quarter. Kendall Capital Management now owns 7,964 shares of the specialty pharmaceutical company's stock worth $989,000 after buying an additional 95 shares during the period. Louisiana State Employees Retirement System raised its stake in Jazz Pharmaceuticals by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 16,900 shares of the specialty pharmaceutical company's stock worth $2,098,000 after buying an additional 100 shares during the period. Sound View Wealth Advisors Group LLC raised its stake in Jazz Pharmaceuticals by 1.3% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 8,425 shares of the specialty pharmaceutical company's stock worth $1,046,000 after buying an additional 110 shares during the period. Finally, Cardinal Capital Management raised its stake in Jazz Pharmaceuticals by 0.9% during the 1st quarter. Cardinal Capital Management now owns 13,254 shares of the specialty pharmaceutical company's stock worth $1,645,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 89.14% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised their price objective on Jazz Pharmaceuticals from $162.00 to $163.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Wall Street Zen downgraded Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft started coverage on Jazz Pharmaceuticals in a report on Tuesday, July 15th. They set a "buy" rating and a $152.00 target price for the company. Truist Financial increased their target price on Jazz Pharmaceuticals from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Finally, Royal Bank Of Canada increased their target price on Jazz Pharmaceuticals from $145.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $178.67.

Jazz Pharmaceuticals Stock Up 1.2%

JAZZ stock traded up $1.48 during trading hours on Friday, reaching $129.50. 718,352 shares of the stock were exchanged, compared to its average volume of 945,562. The firm's 50-day moving average is $116.23 and its 200-day moving average is $117.08. The company has a market cap of $7.86 billion, a price-to-earnings ratio of -19.24, a PEG ratio of 8.17 and a beta of 0.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.62 and a quick ratio of 1.37. Jazz Pharmaceuticals PLC has a 12 month low of $95.49 and a 12 month high of $148.06.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) earnings per share for the quarter, missing the consensus estimate of ($5.61) by ($2.64). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. Jazz Pharmaceuticals had a negative net margin of 9.91% and a positive return on equity of 5.02%. Jazz Pharmaceuticals's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.30 EPS. Jazz Pharmaceuticals has set its FY 2025 guidance at 4.800-5.600 EPS. On average, equities research analysts expect that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, Director Bruce C. Cozadd sold 6,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.62, for a total value of $771,720.00. Following the completion of the transaction, the director owned 429,973 shares in the company, valued at $55,303,127.26. This trade represents a 1.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is owned by insiders.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.