Jazz Pharmaceuticals PLC $JAZZ Position Boosted by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System increased its Jazz Pharmaceuticals stake by 10.6% in the first quarter, adding 11,915 shares and lifting its total holding to 124,583 shares valued at about $23.6 million.
• Several insiders sold shares recently, including Director Bruce C. Cozadd and Director Heather Ann McSharry; insiders have sold 13,098 shares worth about $3.13 million over the last three months.
• Analyst sentiment remains positive, with multiple firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and an average target price of $259.06.

California Public Employees Retirement System boosted its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,583 shares of the specialty pharmaceutical company's stock after acquiring an additional 11,915 shares during the quarter. California Public Employees Retirement System owned 0.20% of Jazz Pharmaceuticals worth $23,552,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth $38,000. Leonteq Securities AG bought a new stake in shares of Jazz Pharmaceuticals during the fourth quarter valued at about $50,000. Root Financial Partners LLC raised its stake in shares of Jazz Pharmaceuticals by 42.8% during the first quarter. Root Financial Partners LLC now owns 297 shares of the specialty pharmaceutical company's stock valued at $56,000 after purchasing an additional 89 shares in the last quarter. Danske Bank A S acquired a new stake in Jazz Pharmaceuticals in the third quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company's stock valued at $47,000 after buying an additional 332 shares in the last quarter. Institutional investors own 89.14% of the company's stock.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total value of $1,442,820.00. Following the transaction, the director directly owned 366,682 shares in the company, valued at $88,176,020.54. The trade was a 1.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heather Ann Mcsharry sold 2,000 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total value of $482,000.00. Following the sale, the director directly owned 18,449 shares of the company's stock, valued at approximately $4,446,209. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 13,098 shares of company stock worth $3,131,906. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on JAZZ. Needham & Company LLC raised their target price on shares of Jazz Pharmaceuticals from $255.00 to $282.00 and gave the company a "buy" rating in a research note on Monday. Weiss Ratings upgraded shares of Jazz Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 29th. Royal Bank Of Canada raised their price objective on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their target price on Jazz Pharmaceuticals from $265.00 to $285.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Truist Financial cut their target price on Jazz Pharmaceuticals from $256.00 to $254.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $259.06.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $250.41 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The firm's 50 day moving average is $236.40 and its 200-day moving average is $202.31. Jazz Pharmaceuticals PLC has a 12-month low of $105.00 and a 12-month high of $255.20. The stock has a market capitalization of $15.73 billion, a P/E ratio of -12,514.24, a P/E/G ratio of 0.22 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. The business had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. Equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current fiscal year.

Jazz Pharmaceuticals Company Profile

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.

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