Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has increased its holdings in Jazz Pharmaceuticals by 18.2%, now owning 132,415 shares worth approximately $16.4 million.
• Jazz Pharmaceuticals reported a loss of ($8.25) earnings per share for the latest quarter, missing analysts' expectations, despite achieving revenues of $1.05 billion.
• Multiple institutional investors have made significant adjustments to their stakes in Jazz Pharmaceuticals, with some increasing their positions by over 2,000%.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,415 shares of the specialty pharmaceutical company's stock after purchasing an additional 20,360 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of Jazz Pharmaceuticals worth $16,439,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Fuller & Thaler Asset Management Inc. grew its stake in shares of Jazz Pharmaceuticals by 117.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 939,351 shares of the specialty pharmaceutical company's stock valued at $115,681,000 after acquiring an additional 507,234 shares in the last quarter. Darwin Global Management Ltd. bought a new stake in Jazz Pharmaceuticals during the fourth quarter worth about $59,668,000. Perpetual Ltd lifted its holdings in shares of Jazz Pharmaceuticals by 60.2% in the first quarter. Perpetual Ltd now owns 952,172 shares of the specialty pharmaceutical company's stock worth $118,212,000 after acquiring an additional 357,784 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Jazz Pharmaceuticals by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company's stock worth $250,619,000 after acquiring an additional 320,724 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Jazz Pharmaceuticals by 20.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company's stock valued at $225,076,000 after buying an additional 315,608 shares during the last quarter. Institutional investors own 89.14% of the company's stock.

Insider Activity

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $107.63, for a total transaction of $107,630.00. Following the completion of the transaction, the chief executive officer owned 436,973 shares in the company, valued at $47,031,403.99. The trade was a 0.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

JAZZ has been the subject of a number of research reports. Robert W. Baird dropped their price objective on shares of Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Jazz Pharmaceuticals in a report on Tuesday, July 15th. They issued a "buy" rating and a $152.00 target price on the stock. Morgan Stanley dropped their price objective on Jazz Pharmaceuticals from $165.00 to $162.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen cut Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $202.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $181.43.

Jazz Pharmaceuticals Stock Down 0.4%

JAZZ stock traded down $0.45 during midday trading on Thursday, hitting $116.67. The stock had a trading volume of 540,937 shares, compared to its average volume of 966,190. Jazz Pharmaceuticals PLC has a 52-week low of $95.49 and a 52-week high of $148.06. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of -17.34, a price-to-earnings-growth ratio of 7.29 and a beta of 0.34. The business has a 50-day moving average of $111.54 and a two-hundred day moving average of $117.36. 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 (NASDAQ:JAZZ - Get Free Report) last posted its earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) earnings per share for the quarter, missing analysts' consensus estimates of ($5.61) by ($2.64). Jazz Pharmaceuticals had a negative net margin of 9.91% and a positive return on equity of 5.02%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company posted $5.30 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

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.