CM Management LLC Grows Position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Key Points

• CM Management LLC increased its stake in Jazz Pharmaceuticals by 33.3%, owning 20,000 shares valued at approximately $2.48 million as of the end of the most recent quarter.
• Insider transactions include Director Seamus Mulligan purchasing 1,621 shares, while CEO Bruce C. Cozadd sold 1,000 shares, reflecting active management of their holdings.
• Jazz Pharmaceuticals faced a quarterly earnings miss with a loss of $8.25 per share, missing estimates, but revenue remained stable at $1.05 billion.

CM Management LLC raised its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 33.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the specialty pharmaceutical company's stock after purchasing an additional 5,000 shares during the period. Jazz Pharmaceuticals accounts for approximately 2.4% of CM Management LLC's holdings, making the stock its 14th biggest holding. CM Management LLC's holdings in Jazz Pharmaceuticals were worth $2,483,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in JAZZ. Versant Capital Management Inc boosted its position in Jazz Pharmaceuticals by 9.4% during the first quarter. Versant Capital Management Inc now owns 1,058 shares of the specialty pharmaceutical company's stock worth $131,000 after purchasing an additional 91 shares during the period. Bessemer Group Inc. boosted its position in Jazz Pharmaceuticals by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company's stock worth $3,317,000 after purchasing an additional 92 shares during the period. Kendall Capital Management boosted its position in Jazz Pharmaceuticals by 1.2% during the first quarter. Kendall Capital Management now owns 7,964 shares of the specialty pharmaceutical company's stock worth $989,000 after purchasing an additional 95 shares during the period. Synovus Financial Corp boosted its position in Jazz Pharmaceuticals by 0.5% during the fourth quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company's stock worth $2,365,000 after purchasing an additional 100 shares during the period. Finally, Quarry LP boosted its position in Jazz Pharmaceuticals by 6.3% during the fourth quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company's stock worth $209,000 after purchasing an additional 100 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Down 0.7%

Shares of JAZZ traded down $0.78 during trading hours on Friday, reaching $111.30. The stock had a trading volume of 893,673 shares, compared to its average volume of 771,387. Jazz Pharmaceuticals PLC has a 12 month low of $95.49 and a 12 month high of $148.06. The firm has a 50-day simple moving average of $111.27 and a 200 day simple moving average of $117.53. The company has a current ratio of 1.62, a quick ratio of 2.97 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of -16.54, a P/E/G ratio of 6.52 and a beta of 0.34.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) EPS for the quarter, missing analysts' consensus estimates of ($5.61) by ($2.64). The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.05 billion. Jazz Pharmaceuticals had a negative net margin of 9.91% and a positive return on equity of 5.02%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $5.30 earnings per share. Equities research analysts predict that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $202.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Jazz Pharmaceuticals in a research report on Tuesday, July 15th. They set a "buy" rating and a $152.00 price objective for the company. Wall Street Zen cut shares of Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada cut their price objective on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $181.43.

Insider Activity

In related news, Director Seamus Mulligan bought 1,621 shares of the business's stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $103.00 per share, for a total transaction of $166,963.00. Following the purchase, the director directly owned 101,621 shares in the company, valued at $10,466,963. This trade represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $107.63, for a total value of $107,630.00. Following the sale, the chief executive officer owned 436,973 shares of the company's stock, valued at approximately $47,031,403.99. This trade represents a 0.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.30% of the company's stock.

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.