Cresset Asset Management LLC Decreases Holdings in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Cresset Asset Management LLC reduced its stake in Jazz Pharmaceuticals by 13.7%, selling 2,307 shares, bringing its total to 14,536 shares valued at approximately $1.8 million.
• Multiple institutional investors, including American Century Companies Inc. and Dimensional Fund Advisors LP, have increased their stakes in Jazz Pharmaceuticals during the same quarter, indicating ongoing interest in the company.
• Jazz Pharmaceuticals reported a disappointing quarterly loss of $8.25 EPS, significantly below the expected loss of $5.61, while their revenue met estimates at $1.05 billion.

Cresset Asset Management LLC lessened its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 13.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,536 shares of the specialty pharmaceutical company's stock after selling 2,307 shares during the period. Cresset Asset Management LLC's holdings in Jazz Pharmaceuticals were worth $1,805,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in JAZZ. Fuller & Thaler Asset Management Inc. increased its holdings in Jazz Pharmaceuticals by 117.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 939,351 shares of the specialty pharmaceutical company's stock worth $115,681,000 after buying an additional 507,234 shares during the last quarter. Nuveen LLC purchased a new position in shares of Jazz Pharmaceuticals in the first quarter worth about $62,362,000. Darwin Global Management Ltd. purchased a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth about $59,668,000. Perpetual Ltd increased its stake 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 purchasing an additional 357,784 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 320,724 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on JAZZ shares. Piper Sandler reiterated an "overweight" rating and issued a $147.00 target price (down previously from $176.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Jazz Pharmaceuticals in a research note on Tuesday, July 15th. They issued a "buy" rating and a $152.00 target price for the company. Royal Bank Of Canada reduced their target price on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Zacks Research upgraded shares of Jazz Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Wall Street Zen lowered shares of Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $181.43.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $107.63, for a total transaction of $107,630.00. Following the transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by insiders.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock traded up $2.58 during mid-day trading on Friday, hitting $123.11. 726,062 shares of the company traded hands, compared to its average volume of 833,761. Jazz Pharmaceuticals PLC has a one year low of $95.49 and a one year high of $148.06. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of -18.29, a price-to-earnings-growth ratio of 7.76 and a beta of 0.34. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.37 and a current ratio of 1.62. The stock has a fifty day moving average price of $112.73 and a 200-day moving average price of $117.12.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned $5.30 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Jazz Pharmaceuticals has set its FY 2025 guidance at 4.800-5.600 EPS. On average, equities analysts predict that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

Jazz Pharmaceuticals Company Profile

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.