State of New Jersey Common Pension Fund D Sells 2,648 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• The State of New Jersey Common Pension Fund D has decreased its stake in Jazz Pharmaceuticals PLC by 11.5%, now holding 20,291 shares valued at $2,519,000.
• Jazz Pharmaceuticals reported a loss of $8.25 earnings per share for the last quarter, missing expectations, while revenue was $1.05 billion, matching analyst forecasts.
• Institutional investors own approximately 89.14% of Jazz Pharmaceuticals' stock, reflecting strong institutional interest in the company.

State of New Jersey Common Pension Fund D lessened its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 11.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 20,291 shares of the specialty pharmaceutical company's stock after selling 2,648 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Jazz Pharmaceuticals were worth $2,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JAZZ. American Century Companies Inc. increased its position in shares of Jazz Pharmaceuticals by 17.2% during the first quarter. American Century Companies Inc. now owns 188,062 shares of the specialty pharmaceutical company's stock worth $23,348,000 after buying an additional 27,650 shares during the period. Brandywine Global Investment Management LLC boosted its position in Jazz Pharmaceuticals by 2.5% during the first quarter. Brandywine Global Investment Management LLC now owns 391,276 shares of the specialty pharmaceutical company's stock valued at $48,577,000 after acquiring an additional 9,546 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Jazz Pharmaceuticals by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,328,430 shares of the specialty pharmaceutical company's stock worth $289,066,000 after acquiring an additional 293,360 shares during the period. Fox Run Management L.L.C. grew its holdings in Jazz Pharmaceuticals by 133.9% during the 1st quarter. Fox Run Management L.L.C. now owns 10,339 shares of the specialty pharmaceutical company's stock worth $1,284,000 after acquiring an additional 5,918 shares during the period. Finally, Boston Partners raised its position in shares of Jazz Pharmaceuticals by 21.6% in the 1st quarter. Boston Partners now owns 11,150 shares of the specialty pharmaceutical company's stock worth $1,384,000 after acquiring an additional 1,978 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Zacks Research upgraded Jazz Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Wall Street Zen lowered Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Royal Bank Of Canada reduced their price objective on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Jazz Pharmaceuticals in a research note on Tuesday, July 15th. They issued a "buy" rating and a $152.00 price objective for the company. Finally, Morgan Stanley cut their target price on shares of Jazz Pharmaceuticals from $165.00 to $162.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $181.43.

Insider Activity at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $107.63, for a total value of $107,630.00. Following the transaction, the chief executive officer owned 436,973 shares in the company, valued at $47,031,403.99. This trade represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is currently owned by company insiders.

Jazz Pharmaceuticals Stock Up 2.1%

Shares of NASDAQ JAZZ traded up $2.58 during mid-day trading on Friday, reaching $123.11. 726,062 shares of the company's stock traded hands, compared to its average volume of 842,579. The stock has a market cap of $7.47 billion, a P/E ratio of -18.29, a PEG ratio of 7.76 and a beta of 0.34. The business has a 50-day simple moving average of $112.73 and a 200 day simple moving average of $117.10. Jazz Pharmaceuticals PLC has a 1-year low of $95.49 and a 1-year high of $148.06. 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 (NASDAQ:JAZZ - Get Free Report) last posted its earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $5.30 EPS. The company's revenue was up 2.1% on a year-over-year basis. Jazz Pharmaceuticals has set its FY 2025 guidance at 4.800-5.600 EPS. On average, analysts expect that Jazz Pharmaceuticals PLC will post 16.96 EPS 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.