Jazz Pharmaceuticals PLC $JAZZ Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System grew its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,212 shares of the specialty pharmaceutical company's stock after buying an additional 1,555 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Jazz Pharmaceuticals worth $15,714,136 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in Jazz Pharmaceuticals during the second quarter worth about $47,000. Wedmont Private Capital boosted its holdings in Jazz Pharmaceuticals by 7.4% during the second quarter. Wedmont Private Capital now owns 2,474 shares of the specialty pharmaceutical company's stock worth $603,000 after purchasing an additional 171 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Jazz Pharmaceuticals by 27.9% in the second quarter. HB Wealth Management LLC now owns 3,722 shares of the specialty pharmaceutical company's stock valued at $897,000 after purchasing an additional 812 shares during the last quarter. Angeles Wealth Management LLC acquired a new stake in shares of Jazz Pharmaceuticals in the 2nd quarter valued at approximately $1,221,000. Finally, Syon Capital LLC boosted its holdings in shares of Jazz Pharmaceuticals by 7.4% during the 2nd quarter. Syon Capital LLC now owns 1,507 shares of the specialty pharmaceutical company's stock worth $363,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Stock Down 2.2%

JAZZ stock traded down $5.38 during mid-day trading on Tuesday, reaching $240.49. 210,177 shares of the company traded hands, compared to its average volume of 946,752. The firm's 50 day moving average price is $249.41 and its 200 day moving average price is $224.59. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.22 and a beta of 0.36. Jazz Pharmaceuticals PLC has a fifty-two week low of $124.47 and a fifty-two week high of $266.38. 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 (NASDAQ:JAZZ - Get Free Report) last announced its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 20.45% and a return on equity of 33.97%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($8.25) EPS. As a group, equities research analysts predict that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current fiscal year.

Insider Activity

In other Jazz Pharmaceuticals news, Director Bruce Cozadd sold 6,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $252.98, for a total transaction of $1,517,880.00. Following the completion of the sale, the director directly owned 360,682 shares of the company's stock, valued at approximately $91,245,332.36. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a legal 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, EVP Neena Patil sold 1,200 shares of the business's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $240.94, for a total transaction of $289,128.00. Following the sale, the executive vice president directly owned 47,671 shares of the company's stock, valued at $11,485,850.74. This represents a 2.46% 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. In the last three months, insiders have sold 98,121 shares of company stock worth $24,443,842. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JAZZ shares. JPMorgan Chase & Co. raised their target price on Jazz Pharmaceuticals from $265.00 to $276.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Barclays boosted their price objective on Jazz Pharmaceuticals from $270.00 to $271.00 and gave the stock an "overweight" rating in a research note on Thursday, September 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Jazz Pharmaceuticals from $287.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Robert W. Baird raised their target price on shares of Jazz Pharmaceuticals from $252.00 to $280.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company boosted their price objective on Jazz Pharmaceuticals from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $286.72.

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.

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.