Federated Hermes Inc. Sells 15,703 Shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Key Points

• Federated Hermes Inc. has reduced its stake in Jazz Pharmaceuticals by 50.6%, now holding 15,324 shares worth approximately $1.9 million after selling 15,703 shares in the first quarter.
• Jazz Pharmaceuticals reported a significant earnings miss with an EPS of ($8.25), missing expectations by $2.64, although revenue was slightly up at $1.05 billion.
• Institutional investors hold 89.14% of Jazz Pharmaceuticals' stock, with various firms recently adjusting their positions, including Zurcher Kantonalbank increasing holdings by 649.5%.

Federated Hermes Inc. lowered its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 50.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,324 shares of the specialty pharmaceutical company's stock after selling 15,703 shares during the period. Federated Hermes Inc.'s holdings in Jazz Pharmaceuticals were worth $1,902,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of JAZZ. Fuller & Thaler Asset Management Inc. grew its stake in Jazz Pharmaceuticals by 117.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 939,351 shares of the specialty pharmaceutical company's stock valued at $115,681,000 after buying an additional 507,234 shares during the last quarter. Darwin Global Management Ltd. acquired a new position in Jazz Pharmaceuticals in the 4th quarter valued at about $59,668,000. Perpetual Ltd grew its stake in Jazz Pharmaceuticals by 60.2% in the 1st quarter. Perpetual Ltd now owns 952,172 shares of the specialty pharmaceutical company's stock valued at $118,212,000 after buying an additional 357,784 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Jazz Pharmaceuticals by 18.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company's stock valued at $250,619,000 after buying an additional 320,724 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake 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 and hedge funds own 89.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JAZZ. Needham & Company LLC restated a "buy" rating and set a $202.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 11th. Morgan Stanley decreased their target price on shares of Jazz Pharmaceuticals from $165.00 to $162.00 and set an "overweight" rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Jazz Pharmaceuticals in a research report on Tuesday, July 15th. They set a "buy" rating and a $152.00 target price on the stock. Robert W. Baird decreased their target price on shares of Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $181.43.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ traded down $0.78 during trading hours on Friday, hitting $111.30. 893,673 shares of the stock were exchanged, compared to its average volume of 771,387. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.97 and a current ratio of 1.62. The company has a market cap of $6.73 billion, a PE ratio of -16.54, a price-to-earnings-growth ratio of 6.52 and a beta of 0.34. The company's fifty day simple moving average is $111.27 and its two-hundred day simple moving average is $117.53. Jazz Pharmaceuticals PLC has a 1-year low of $95.49 and a 1-year high of $148.06.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly 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). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. Jazz Pharmaceuticals had a positive return on equity of 5.02% and a negative net margin of 9.91%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.30 EPS. On average, sell-side analysts predict that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current year.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Seamus Mulligan acquired 1,621 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $103.00 per share, with a total value of $166,963.00. Following the purchase, the director directly owned 101,621 shares in the company, valued at approximately $10,466,963. This trade represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bruce C. Cozadd sold 1,000 shares of the 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 completion of the transaction, the chief executive officer directly owned 436,973 shares of the company's stock, valued at approximately $47,031,403.99. The trade was a 0.23% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Jazz Pharmaceuticals 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.