Jazz Pharmaceuticals PLC $JAZZ Shares Sold by Meritage Portfolio Management

Key Points

• Meritage Portfolio Management has decreased its holdings in Jazz Pharmaceuticals by 19.5%, now owning approximately 61,020 shares valued at $6.475 million.
• Analysts have given Jazz Pharmaceuticals a consensus rating of "Moderate Buy" with a target price of $178.93, suggesting strong market confidence despite mixed individual ratings.
• Director Bruce C. Cozadd sold 3,500 shares of Jazz Pharmaceuticals at an average price of $140, decreasing his ownership by 0.85%, while insiders have sold a total of 11,500 shares worth around $1.525 million in the last ninety days.

Meritage Portfolio Management lessened its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 19.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 61,020 shares of the specialty pharmaceutical company's stock after selling 14,783 shares during the quarter. Meritage Portfolio Management owned about 0.10% of Jazz Pharmaceuticals worth $6,475,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hurley Capital LLC bought a new stake in Jazz Pharmaceuticals in the first quarter worth about $25,000. Picton Mahoney Asset Management raised its position in Jazz Pharmaceuticals by 2,445.5% in the first quarter. Picton Mahoney Asset Management now owns 280 shares of the specialty pharmaceutical company's stock worth $34,000 after acquiring an additional 269 shares in the last quarter. Spire Wealth Management raised its position in Jazz Pharmaceuticals by 137.6% in the first quarter. Spire Wealth Management now owns 278 shares of the specialty pharmaceutical company's stock worth $35,000 after acquiring an additional 161 shares in the last quarter. SVB Wealth LLC bought a new stake in Jazz Pharmaceuticals in the first quarter worth about $36,000. Finally, Geneos Wealth Management Inc. raised its position in Jazz Pharmaceuticals by 57.6% in the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock worth $47,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $202.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, August 28th. Weiss Ratings reiterated a "sell (d)" rating on shares of Jazz Pharmaceuticals in a report on Wednesday. Zacks Research upgraded Jazz Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Jazz Pharmaceuticals in a report on Tuesday, July 15th. They set a "buy" rating and a $152.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on Jazz Pharmaceuticals from $162.00 to $185.00 and gave the company a "buy" rating in a report on Friday, August 29th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.93.

Insider Activity

In other news, Director Bruce C. Cozadd sold 3,500 shares of the company's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $140.00, for a total transaction of $490,000.00. Following the completion of the sale, the director owned 408,826 shares in the company, valued at approximately $57,235,640. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 11,500 shares of company stock worth $1,525,280. Corporate insiders own 4.30% of the company's stock.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $135.43 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.62 and a quick ratio of 1.37. Jazz Pharmaceuticals PLC has a fifty-two week low of $95.49 and a fifty-two week high of $148.06. The stock's 50-day moving average is $125.87 and its two-hundred day moving average is $115.65. The firm has a market cap of $8.22 billion, a P/E ratio of -20.12, a PEG ratio of 8.32 and a beta of 0.28.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) earnings per share for the quarter, missing the consensus estimate of ($5.61) by ($2.64). Jazz Pharmaceuticals had a positive return on equity of 5.02% and a negative net margin of 9.91%.The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $5.30 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Jazz Pharmaceuticals has set its FY 2025 guidance at 4.800-5.600 EPS. Analysts predict that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.

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