Globeflex Capital L P Makes New Investment in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Globeflex Capital initiated a position in Jazz Pharmaceuticals during the second quarter, purchasing 10,645 shares valued at approximately $2.565 million. Institutional investors and hedge funds collectively own 89.14% of the company.
• Jazz reported quarterly revenue of $1.21 billion, up 15.5% year over year and above estimates, although adjusted EPS of $5.71 missed the $6.18 consensus. Analysts project full-year EPS of $21.66.
• Analysts remain broadly positive, with the stock carrying a consensus “Buy” rating and an average price target of $272.89; several firms recently raised their targets to between $276 and $315.

Globeflex Capital L P bought a new position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,645 shares of the specialty pharmaceutical company's stock, valued at approximately $2,565,000.

A number of other large investors have also modified their holdings of the stock. USA Financial Formulas purchased a new position in Jazz Pharmaceuticals in the 1st quarter worth approximately $25,000. LRI Investments LLC acquired a new position in shares of Jazz Pharmaceuticals during the fourth quarter worth $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Jazz Pharmaceuticals during the second quarter worth $61,000. Westpac Banking Corp purchased a new position in shares of Jazz Pharmaceuticals in the first quarter valued at $51,000. Finally, Leonteq Securities AG purchased a new position in shares of Jazz Pharmaceuticals in the fourth quarter valued at $50,000. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Price Performance

JAZZ opened at $254.28 on Monday. The company has a market capitalization of $16.51 billion, a P/E ratio of 17.54, a PEG ratio of 0.23 and a beta of 0.32. The company has a 50-day moving average of $244.78 and a 200-day moving average of $215.64. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78. Jazz Pharmaceuticals PLC has a 1-year low of $121.40 and a 1-year high of $265.05.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing the consensus estimate of $6.18 by ($0.47). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted ($8.25) EPS. Equities analysts expect that Jazz Pharmaceuticals PLC will post 21.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark Douglas Smith sold 1,157 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $230.55, for a total transaction of $266,746.35. Following the sale, the director directly owned 9,680 shares of the company's stock, valued at approximately $2,231,724. This represents a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total value of $278,196.00. Following the transaction, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. This trade represents a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,357 shares of company stock valued at $3,505,642 in the last quarter. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JAZZ. JPMorgan Chase & Co. lifted their price target on shares of Jazz Pharmaceuticals from $265.00 to $276.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Piper Sandler upped their price objective on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Sanford C. Bernstein restated a "market perform" rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $287.00 target price on shares of Jazz Pharmaceuticals in a research report on Tuesday, August 4th. Finally, UBS Group reiterated a "buy" rating and issued a $315.00 price target on shares of Jazz Pharmaceuticals in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $272.89.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company's research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz's product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source