Jazz Pharmaceuticals PLC $JAZZ Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Jazz Pharmaceuticals by 11.8%, owning 2,836,652 shares (4.67% of the company) after adding 298,815 shares worth about $373.9M in the quarter.
• Jazz topped quarterly estimates with EPS of $6.64 (vs. $6.49 expected) and revenue of $1.20B (vs. $1.17B), with revenue up 8.1% year-over-year, though the company still reports a negative net margin and negative P/E; analysts remain largely bullish with an average price target of $214.57.
• Insiders have sold 68,966 shares (~$13.18M) in the last 90 days (including EVP Neena Patil), institutional ownership is high at about 89.14%, and insiders hold roughly 4.30% of shares.

Dimensional Fund Advisors LP increased its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 11.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,836,652 shares of the specialty pharmaceutical company's stock after purchasing an additional 298,815 shares during the quarter. Dimensional Fund Advisors LP owned 4.67% of Jazz Pharmaceuticals worth $373,855,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vestal Point Capital LP acquired a new stake in shares of Jazz Pharmaceuticals in the second quarter worth $127,344,000. AQR Capital Management LLC boosted its position in Jazz Pharmaceuticals by 62.1% during the 2nd quarter. AQR Capital Management LLC now owns 794,770 shares of the specialty pharmaceutical company's stock worth $84,341,000 after purchasing an additional 304,463 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Jazz Pharmaceuticals in the 3rd quarter valued at $27,834,000. Goldman Sachs Group Inc. increased its holdings in Jazz Pharmaceuticals by 147.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company's stock valued at $43,652,000 after purchasing an additional 209,667 shares in the last quarter. Finally, Saturn V Capital Management LP purchased a new position in Jazz Pharmaceuticals in the second quarter valued at about $21,962,000. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Performance

Jazz Pharmaceuticals stock opened at $183.63 on Friday. Jazz Pharmaceuticals PLC has a 52 week low of $95.49 and a 52 week high of $198.00. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00. The stock has a market cap of $11.30 billion, a P/E ratio of -30.76, a price-to-earnings-growth ratio of 0.37 and a beta of 0.22. The stock has a 50 day moving average of $170.88 and a 200-day moving average of $153.39.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $6.49 by $0.15. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The firm's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.51 EPS. On average, analysts expect that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In other news, EVP Neena M. Patil sold 55,600 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $191.56, for a total value of $10,650,736.00. Following the completion of the transaction, the executive vice president owned 56,862 shares in the company, valued at approximately $10,892,484.72. This trade represents a 49.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Patricia Carr sold 1,253 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $194.11, for a total value of $243,219.83. Following the sale, the chief accounting officer directly owned 10,352 shares in the company, valued at approximately $2,009,426.72. This represents a 10.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,966 shares of company stock valued at $13,181,406 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

JAZZ has been the subject of a number of recent research reports. Truist Financial increased their target price on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Monday, January 12th. TD Cowen reaffirmed a "buy" rating on shares of Jazz Pharmaceuticals in a research report on Thursday, January 29th. Bank of America lifted their price objective on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Morgan Stanley upped their target price on shares of Jazz Pharmaceuticals from $225.00 to $226.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Jazz Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Saturday, November 8th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $214.57.

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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