IFP Advisors Inc Has $8.24 Million Position in Jazz Pharmaceuticals PLC $JAZZ

IFP Advisors Inc cut its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 12.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,193 shares of the specialty pharmaceutical company's stock after selling 4,955 shares during the period. IFP Advisors Inc owned about 0.05% of Jazz Pharmaceuticals worth $8,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in shares of Jazz Pharmaceuticals by 24,585.6% during the 2nd quarter. California State Teachers Retirement System now owns 15,714,136 shares of the specialty pharmaceutical company's stock valued at $3,786,635,000 after acquiring an additional 15,650,479 shares in the last quarter. Vestal Point Capital LP acquired a new position in Jazz Pharmaceuticals in the 2nd quarter worth about $127,344,000. Franklin Resources Inc. raised its stake in shares of Jazz Pharmaceuticals by 164.0% during the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock worth $309,215,000 after purchasing an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Jazz Pharmaceuticals by 160.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company's stock valued at $197,516,000 after buying an additional 715,361 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company's stock valued at $93,160,000 after buying an additional 395,000 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company's stock.

Jazz Pharmaceuticals Stock Up 0.5%

Shares of NASDAQ JAZZ opened at $241.31 on Thursday. The firm's 50-day simple moving average is $249.38 and its 200 day simple moving average is $223.09. The company has a market cap of $15.67 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 0.22 and a beta of 0.36. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.69. Jazz Pharmaceuticals PLC has a 12-month low of $123.88 and a 12-month high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing analysts' consensus estimates of $6.18 by ($0.47). Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned ($8.25) EPS. The firm's revenue was up 15.5% compared to the same quarter last year. On average, research analysts expect that Jazz Pharmaceuticals PLC will post 21.5 earnings per share for the current fiscal year.

Insider Activity

In other Jazz Pharmaceuticals news, EVP Robert Iannone sold 76,921 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $249.70, for a total transaction of $19,207,173.70. Following the transaction, the executive vice president owned 65,686 shares of the company's stock, valued at approximately $16,401,794.20. This represents a 53.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $250.13, for a total value of $1,500,780.00. Following the completion of the transaction, the director owned 351,875 shares in the company, valued at $88,014,493.75. The trade was a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 96,078 shares of company stock valued at $23,935,400 over the last three months. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

JAZZ has been the subject of several recent analyst reports. Bank of America upped their price objective on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. lifted their price objective on Jazz Pharmaceuticals from $265.00 to $276.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Royal Bank Of Canada set a $299.00 price target on Jazz Pharmaceuticals in a research note on Friday, August 28th. Deutsche Bank Aktiengesellschaft upped their price target on Jazz Pharmaceuticals from $287.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, August 26th. Finally, TD Cowen increased their price objective on Jazz Pharmaceuticals from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of "Buy" and an average price target of $285.44.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc NASDAQ: JAZZ is a global biopharmaceutical company focused on developing and commercializing medicines for disorders in neuroscience and oncology. The company concentrates on conditions with significant unmet medical needs, including sleep disorders, epilepsy, rare diseases and certain cancers.

Its neuroscience portfolio includes Xywav and Xyrem, oxybate-based treatments for narcolepsy, with Xywav also indicated for idiopathic hypersomnia in adults. Jazz also markets Epidiolex in the United States, known as Epidyolex in some international markets, a cannabidiol-based medicine for seizures associated with Lennox-Gastaut syndrome, Dravet syndrome and tuberous sclerosis complex.

In oncology, Jazz's products include Rylaze, an asparaginase therapy used as part of treatment for acute lymphoblastic leukemia and lymphoblastic lymphoma; Zepzelca, used for certain patients with metastatic small cell lung cancer; and Vyxeos, a chemotherapy formulation for certain cases of newly diagnosed therapy-related acute myeloid leukemia or AML with myelodysplasia-related changes.

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